George Goncalves

George Goncalves

Formal First Name

George Goncalves is Head of U.S. Macro Strategy at MUFG, one of the world's leading financial groups. In his role, George formulates U.S. fixed income views, drives market strategy thought leadership, and actionable trade ideas for clients. He also focuses on rates, MBS, credit, the Fed, global central bank policy, U.S. dollar funding dynamics and all things macro-related. George is an industry veteran with more than 20 years of experience on the buy-side and sell-side. He specializes in rates, structured products, credit, global central bank policy, dollar funding dynamics, and all things macro. In addition, he blends economic fundamentals with global macro events and technical insights to make tactical relative value trade recommendations across the United States and Canada rates markets. Prior to joining MUFG, George spent nearly a decade at Nomura Securities, first as the chief U.S. Rates Strategist and later as the Head of U.S. Fixed Income Strategy, where he oversaw teams of analysts covering U.S. rates, U.S. credit and emerging market rates.

Professional Experience

Academic History


  • George started his career as an assistant fixed income portfolio manager with Merrill Lynch, where he focused on the front-end of the US rates curve.

  • He was Head of Fixed Income Rate Strategy at Cantor Fitzgerald and a Senior Research Analyst at both Morgan Stanley and Bank of America.

  • He analyzed and co-managed portfolios of Treasuries, short-term credit and mortgage-backed securities as an assistant portfolio management analyst.

  • Throughout his career, he has worked with many debt issuers and has an established wide network of institutional investors from every sector.

  • He wrote a chapter on TIPS & inflation products in the IFR Market Intelligence book series.

  • In 2007, he was voted one of the top 20 rising fixed income professionals worldwide in the inaugural "Rising Stars" survey by Institutional Investor magazine. 


  • George is sought-after for his views and analysis, and is frequently quoted in the financial press.

  • He has been featured in Bloomberg, Financial Times, and The Wall Street Journal/

  • He has made several guest appearances on Bloomberg TV, CNBC, and Reuters TV.

  • He has also appeared as a guest on Real Vision.