Treading Carefully: Risk and Opportunity in CLOs and Bank Loans
Room to Grow? The Outlook for Equities Late in the Cycle
Outlook 2020: Global Bonds
Warning Signs Flash As High Yield Corporate Debt Mounts
December 2019 Fixed Income Market Update
In November, global economic data was mixed, while U.S. growth and employment data continued to surprise to the upside. China trade tensions continued to moderate, which improved risk sentiment, though resolution remains elusive.
Don’t Fight the Tape
Should U.S. Treasury (UST) yields be this low, given the current investment landscape? It sure is an interesting question, don’t you think? That being said, whether or not you feel the UST 10-Year yield should be trading at its current level of around 1.70%, the old adage “Don’t fight the tape” comes to mind.
Navigating a World Awash in Negative-Yielding Bonds
Why Inflation Isn’t What You Think
The Federal Reserve has long wrestled with stubbornly low inflation. A decade ago few would have expected this to be a problem, but Personal Consumer Expenditure (PCE) inflation, the Fed’s preferred measure, is coming in at 1.8% this year. Federal Open Market Committee (FOMC) members have been considering allowing inflation to overshoot their target of “around 2%”.
Four Factors Are Driving Future Growth of Fixed Income ETFs
U.S. Muni Market: 2020 Rate Outlooks Trigger Taxable Supply Uncertainties; Issuance Likely to Skyrocket in Week Ahead
Sustainable Investing Gains Traction In Fixed Income
Elevating Your Bond Experience: Bond Ladders Vs. An Active Approach
The Barbell Solution: Q4 Update
The volatility in Treasury (UST) yields since Labor Day is a real-time example of what investors have been faced with recently regarding the direction of interest rates. While 2019 thus far has been, generally, a year of falling rates as compared to the 2018 experience.
High Yield Market Divergence
Snap Chart: Yield Curve Steepening
Chart of the Week – Investor Sentiment: S&P 500 (SPX)
Strong Economy, Equity Momentum Could Swamp Bond Market
How to Add Mortgage-Backed Securities and Securitized Debt to Your Fixed Income Arsenal
Chart of the Week: Credit Spreads – High Yield Corporate Bond Spreads
November 2019 Fixed Income Market Update
Declining geopolitical risk in the form of tempering of tensions regarding China trade and Brexit as well as easing monetary policy in the U.S. improved market sentiment in the month. Global manufacturing data weakened, while U.S. employment data remained solid.