Fixed Income Perspectives

When beta is expensive, tactical decisions make a world of difference—here is how we are positioning portfolios heading into 2020.

Economic data seem to confirm our thesis of slowdown, not recession, but do not yet confirm a turnaround; nonetheless, we believe a turning point is approaching.

It was just this summer when many pundits (and some investors) cited over-levered corporations as an ominous sign for corporate bonds. These headlines have largely disappeared. So what happened?

Investors are asking why rates are so low and how much lower they might fall; better to ask whether low rates are still effective.

Recently, we asked which had more clout with investors, the FOMC or President Trump’s tweets. Now we know: tweet trumps Fed.

Entering the second half of 2019, our portfolios are positioned to reflect seven key themes.

No one likes the messenger who brings bad news—unless, of course, that news leads the Fed to cut interest rates. 

Growing tension between the U.S. and China sparks volatility – which path will markets take from here? 

While the yield curve is one indicator of the economy’s trajectory, there are other factors to consider.

When valuations reflect good news, risk is generally skewed to the downside. Investors beware: There is no shortage of good news in today’s market.