August 07, 2020 Crisis Dashboard: Big Data Helps Paint the Big Picture (August 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
August 05, 2020 China’s Higher Bond Yields Buck the Global Trend by Brad Gibson Government bond yields have tumbled globally but China’s yields have risen to pre-COVID-19 levels. The RMB hasn’t yet reacted to the favorable rate difference, and we think bond yields are likely to decline moving forward—a favorable landscape for China bonds. China, Coronavirus, Currency, Emerging Markets, Fixed Income Likes 0 SHARE Bookmarks
July 28, 2020 The Trillion-Dollar Question: Will the Corporate Borrowing Binge Cause Lasting Damage? by Susan Hutman US Investment-grade corporate bond issuance has rolled past US$1 trillion so far in 2020. What are the long-term effects of this explosive borrowing? Coronavirus, Fixed Income, Late-Cycle Investing Likes 0 SHARE Bookmarks
July 23, 2020 Small Ways Muni Investors Can Make a Big Difference by Eric Glass, Michelle Dunstan Investors increasingly want to align their financial goals with a commitment to improving the lives of others. Two recent projects showcase how municipal bond investors are making an impact. Fixed Income, Municipals, Responsible Investing/ESG Likes 0 SHARE Bookmarks
July 09, 2020 Midyear Outlook: Bond Investing in the Era of Low and No Yield by Scott DiMaggio, Gershon Distenfeld Low yields plus rising defaults seemingly leave little ground for bond investors seeking safety or income—or both. But for investors who remain flexible, those objectives aren’t as distant as many think. Coronavirus, Fixed Income, Low-Yield Environment, Volatility Likes 0 SHARE Bookmarks
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, Low-Yield Environment, 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 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, Low-Yield Environment, 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, Low-Yield Environment 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