Fixed Income

The ratings cut on U.S. Treasuries presents an uncomfortable reality about the United States’ long-term fiscal stability, but it’s not a doomsday scenario.

The forecast for securitized credit has turned notably brighter in recent months, even as the dark cloud of offices continues to cast a long shadow.

GNMAs can be a compelling way to defend against unexpected market shocks, offering a risk profile similar to Treasuries but with higher yields.

Experienced active managers can capitalize on opportunities that fall outside their benchmarks and can manage unwanted concentrations. This has historically resulted in relatively high success rates in generating alpha.

Political brinksmanship over the debt limit is poised to push the Treasury to the edge. If 2011 is a guide, T-bill discounts could get wider into June, potentially causing ripple effects across markets.