Following the bond market’s recent beating, term yields have already priced in aggressive Fed rate hikes, positioning core bonds to effectively diversify credit risk.
Strong funded ratios and higher interest rates are prompting many corporate pension plan sponsors to shift assets to LDI strategies.
January 1, 2022 marked a significant milestone in the transition from LIBOR to alternative reference rates.
The opportunity cost for inflation protection is high—is it worth the cost?
Recent rate volatility offers a rare opportunity, but if history serves as any guide the window to act will be fast to close.
Volatile markets and low interest rates have many investors looking for relative price stability and income. GNMAs may help investors seeking these traits, but many are understandably confused about what GNMAs are and how they differ from other mortgage- and government-backed securities.
EM Corporates could be a valuable source of total return, carry, and diversification.
We continue to believe that inflation will prove to be a cyclical phenomenon, not a structural risk.
Enjoy today’s cyclical bounce, prepare for tomorrow’s structural risk.
While the world has cheered news of a vaccine on the horizon, it will not be available in time to help fight the recent surge in new cases of the virus.
Going forward, being nimble and remaining selective will be critical to identifying attractive new opportunities.
There are still opportunities to prepare portfolios today for the low-yield world ahead—we see the most value in select areas of the CMBS market.