July 06, 2020 The Credit Barbell Isn’t Broken. Here’s Why. by Matthew Sheridan, Monika Carlson Even with today’s low yields, credit barbell strategies can still meet their objectives of downside protection, upside participation and efficient income. Fixed Income, Volatility Likes 0 SHARE Bookmarks
July 01, 2020 The One Metric All High-Yield Investors Should Know One simple statistic can help high-yield investors gauge how their bonds may perform down the road. Fixed Income Likes 0 SHARE Bookmarks
June 29, 2020 ESG Research Helps Reveal Resilience amid COVID-19 by Michelle Dunstan By integrating ESG analysis with fundamental research, investors can get a better understanding of the opportunities and threats the pandemic poses for business models. Coronavirus, Equities, Fixed Income, Responsible Investing/ESG Likes 0 SHARE Bookmarks
June 26, 2020 Crisis Dashboard: Big Data Helps Paint the Big Picture (Update) by Jonathan Berkow, Scott Krauthamer Many investors are looking for emerging signs of a return to normalcy from the coronavirus crisis. While there are many indicators to choose from, we’ve assembled a group of signals, with the help of big data, that may point the way. Coronavirus, Economics, Equities, Fixed Income Likes 0 SHARE Bookmarks
June 17, 2020 Mid-Grade Munis Have Room to Rebound by Daryl Clements Municipal bonds—especially higher-quality issues—bounced back after a rough March. But not all munis have rallied. We see potential among overlooked mid-grade issues. Fixed Income, Municipals Likes 0 SHARE Bookmarks
June 15, 2020 How Will European Government Bond Markets Navigate the New Era? by Darren Williams, John Taylor COVID-19 is triggering a new era of central banking. We believe this will play out just as powerfully in the euro area as elsewhere. Coronavirus, Economics, Fixed Income, Volatility Likes 0 SHARE Bookmarks
June 11, 2020 The Fed Didn’t Ease More...Is That a Missed Opportunity? by Eric Winograd The Fed gave its updated economic outlook this week, but not the additional policy support markets were looking for. We think this was a misstep...but one we hope will be corrected if the outlook doesn’t improve. Coronavirus, Economics, Fixed Income Likes 0 SHARE Bookmarks
June 10, 2020 Five Reasons Municipals Have Rarely Defaulted by David Ambler, Matthew Norton Municipal bond defaults have been rare, making them a remarkably resilient investment over the years. The reasons range from the very services muni issuers provide to the fundamental characteristics of municipalities. Fixed Income, Municipals Likes 0 SHARE Bookmarks
June 03, 2020 Can AT1s Survive Coronavirus? by Jørgen Kjærsgaard, Steve Hussey European banks’ additional Tier 1 securities should survive a short bout of the coronavirus. But even in a prolonged pandemic, the risk/reward trade-off might be better than perceived. Coronavirus, Fixed Income Likes 0 SHARE Bookmarks
June 01, 2020 Emerging-Market Debt: Higher Quality, Higher Yield? by Shamaila Khan As the coronavirus crisis unfolded, spreads spiked to record highs across investment-grade emerging-market debt, despite the sector’s strong fundamentals. Today, spreads remain wide. That may not last. Coronavirus, Emerging Markets, Fixed Income, Volatility Likes 0 SHARE Bookmarks
May 22, 2020 Why Fallen Angels Can Be a Good Catch For investors who can hold them, owning some angels after they’ve fallen may make sense. Coronavirus, Fixed Income, Volatility Likes 0 SHARE Bookmarks
May 21, 2020 Credit Risk-Transfer Securities: Finding the Way Forward by Janaki Rao, Monika Carlson Despite its recent rebound, CRTs’ recovery continues to trail the sharper recovery of other markets. This suggests the sector has more upside potential. Coronavirus, Fixed Income, Volatility Likes 0 SHARE Bookmarks
May 18, 2020 The Market and Negative US Rates: Right Idea, Wrong Tool by Eric Winograd The Fed continues to dismiss the idea of negative US rates but the market keeps pricing them in. We don’t expect negative rates: in our view, the market is using them as a proxy for Fed measures that may be needed but aren’t yet identified. Coronavirus, Economics, Fixed Income, Volatility Likes 0 SHARE Bookmarks