The FOMC looks poised to cut rates. What does that mean for fixed income portfolio positioning?
Are any interest rates increasing? Not in the Treasury market.
Weakness in global markets is having an impact on the United States. Within our framework made of four separate components, Commercial Real Estate remains the most attractive.
If foreign buyers are not going after U.S. Treasuries to take advantage of higher interest rates, then who is buying U.S. Treasuries?
Have interest rates been increasing? That depends on which interest you look at.
Risk-off indicators continue to suggest cautious positioning.
The high yield credit market can be added to the list of markets not making a new high, unlike the S&P 500.
The S&P 500 reached a new high, which has made the headlines. However, what is not reaching a new high may be the most interesting news.
Steady and strong demand for municipals in 2018 has continued into 2019.
Investors are being selective with high yield credit risk as liquidity becomes harder to find.
Consumer and real estate markets look to be in better health than corporations.
Looking beyond the shape of the yield curve, what happens during Fed hiking cycles?
The yield curve has inverted out to 10 years for the first time this cycle. What can this tell us?
The consumer and commercial real estate markets continue to exhibit the strong fundamentals while government and corporations look to be the weaker.
Equity markets are sending signals that suggest all is well and the economy is bouncing back, but the bond market and other defensive assets seem to disagree.
Global economic data continued to decline in the early parts of 2019, while the U.S. remains the strongest region. Despite weak economic data and negative earnings revisions, risk markets have rebounded strongly as sentiment has improved and concerns about further monetary tightening have dissipated.
Since the financial crisis, the BBB-rated cohort has increased significantly. We acknowledge the recent credit quality concerns in the investment grade credit market, but we do not believe that all BBBs should be painted with the same brush.
As the government shutdown nears its fourth week, what can investors in commercial real estate expect from the second longest shutdown in U.S. history?
Equity and credit markets have been declining in the fourth quarter as investors have become more concerned about the outlook for the economy and earnings in 2019. A change in monetary policy and financial conditions are new wrinkles from prior risk asset pullbacks experienced since 2009.
As of October, and into November, the equity markets have experienced a wide spread sell-off due to several factors. In this post, we take a look at corporate fundamentals to gain insight into what is taking place in the market and why.