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
May 18, 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
April 30, 2020 Corporate Debt: Defaults, Downgrades and Fallen Angels by Susan Hutman, Robert Hopper Coronavirus-led economic uncertainty is forcing downgrades, defaults and fallen angels. Could this spell opportunity for credit investors? Coronavirus, Fixed Income, Volatility Likes 0 SHARE Bookmarks
April 30, 2020 Italian Sovereign Debt: How to Avoid Being Junked by Darren Williams Italy’s credit rating is under pressure. In an unscheduled downgrade on April 28, Fitch lowered the country’s sovereign rating to BBB-minus, just a notch above junk. Coronavirus, Economics, Fixed Income Likes 0 SHARE Bookmarks
April 23, 2020 What Plunging Oil Prices Mean for Energy Bonds by Gershon Distenfeld, Susan Hutman Oil prices briefly turned negative this week. What does it mean for energy bonds? And why does the long view for oil matter more? Fixed Income, Volatility Likes 0 SHARE Bookmarks
April 16, 2020 Fed Actions May Stabilize Global Corporate Markets by Erin Bigley, Eamonn Buckley, Tiffanie Wong Under the CARES Act, the Fed has expanded supports for corporate bonds. Could this bring a regime shift in volatility for global credit markets? Coronavirus, Fixed Income, Policy & Regulation, Volatility Likes 0 SHARE Bookmarks
April 15, 2020 How Municipal Bond Issuers Will Navigate the Crisis by John Ceffalio, Daryl Clements The $2.2 trillion CARES Act and the Fed’s $500 billion muni facility will provide state and local governments an enormous amount of liquidity and financial support. Here’s how it will help. Coronavirus, Fixed Income, Municipals, Policy & Regulation Likes 0 SHARE Bookmarks
April 04, 2020 Bond Investing as Coronavirus Crisis Intensifies by Scott DiMaggio, Gershon Distenfeld Most of the bond market sold off in March as the coronavirus crisis intensified. But as past crises have shown, indiscriminate selloffs can generate big opportunities. Coronavirus, Fixed Income, Volatility Likes 0 SHARE Bookmarks
March 27, 2020 The Key Part of the US Fiscal Relief Package? Willingness to Act by Eric Winograd The historic US fiscal aid package isn’t a quick fix, but it provides welcome relief and will make it easier for the US economy to rebound when the coronavirus crisis eases. More important, it shows that Congress is willing to act swiftly and dynamically. Business Owners, Coronavirus, Economics, Equities, Fixed Income, Volatility Likes 0 SHARE Bookmarks
March 18, 2020 Could US Municipals Suffer as Coronavirus Spreads? by Daryl Clements Are municipal bond issuers vulnerable to the COVID-19 pandemic? We assess key sectors, from states to hospitals to airports. Active & Passive , Coronavirus, Fixed Income, Municipals Likes 0 SHARE Bookmarks
March 18, 2020 The Fed Could Roll Out De Facto Fiscal Policy Under Section 13(3) by Eric Winograd Conventional wisdom says the Fed is pretty much out of tools to support markets and an economy derailed by the coronavirus. But if things don’t stabilize soon or if the fiscal response is too slow, we expect the Fed to take on broad fiscal-like authority to funnel liquidity into struggling businesses and households. Coronavirus, Economics, Equities, Fixed Income, Volatility Likes 0 SHARE Bookmarks