Fixed-Income Outlook: After several quarters of low volatility, tight spreads, and abundant liquidity, financial conditions are shifting.
A framework for transitioning sustainable investing to an institutional asset class.
Benign conditions support near term value in credit, but default rates will rise as the Fed tightens further and corporate debt levels continue to grow.
Prepare for when the effects of fiscal stimulus begin to wear off and monetary policy keeps getting more restrictive.
Ten charts illustrate the macroeconomic trends most likely to shape Fed policy and investment performance in 2018 and beyond.
After several quarters of low volatility, tight spreads, and abundant liquidity, financial conditions are shifting.
New developments in fiscal policy, the labor market, and the neutral interest rate suggest that the expansion could extend into the latter half of our recession range.
Investors are coming to terms with the idea that the Fed will keep raising rates because of inflation and economic pressures.
VIDEO
Global CIO Scott Minerd and Head of Macroeconomic and Investment Research Brian Smedley provide context and commentary to complement our recent publication, “Forecasting the Next Recession.”
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Portfolio Manager Steve Brown and Matt Bush, a Director in the Macroeconomic and Investment Research Group, share insights from the Second Quarter Fixed-Income Outlook, and explain how macroeconomic inputs inform our asset allocation.
Plans are afoot to establish a replacement for Libor beyond the FCA’s 2021 end date.
Policymakers take heed: Successful economic policy is still determined by the four essential factors of production—land, labor, capital, and entrepreneurship.
The deep chasm between investors’ return targets and current market realities is creating a conundrum for core fixed-income investors.
Explaining the structure and investor-friendly features of collateralized loan obligations (CLOs), an often misunderstood sector of structured credit.
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