Sector Views

Our Sector Team leaders share perspectives on performance characteristics, opportunities, and risks across a broad range of fixed-income asset classes.


 


December 15, 2016

Investor Demand Raises Refi Risk

Reversing the trend earlier in the year, primary market opportunities look attractive as the secondary market trades rich.


December 15, 2016

Sorting the Wheat from the Chaff

Identifying relative value as investors struggle to digest a slew of transactions in a hot market.


December 15, 2016

Stability and Liquidity Return

After a volatile first half of the year, debt markets returned to a more normalized origination environment.


December 15, 2016

Commodity Picture Is Still Improving

We continue to find value in energy and metals, which still offer yield premiums over non-commodity names despite an improving fundamental outlook.


December 15, 2016

Foreign Forces Drive Yields Lower

Unwavering investor demand drove yields close to historic lows in the third quarter.


December 15, 2016

Emphasis on Quality

Rising pension liabilities remain a concern, but strong technicals support the municipal market.


December 15, 2016

Defensive Driving

Despite constructive fundamentals, challenging relative value warrants risk control.


December 15, 2016

Pre- and Post-Election Rate Moves

A rising fed funds rate suggests investors should prepare for the curve to flatten.


October 14, 2016

High-Yield and Bank Loan Outlook – October 2016

The recent rise in prices and tightening of spreads suggest a time of caution for leveraged credit.


August 17, 2016

Shifting Demand Results in Opportunity

Value in new-issue aircraft lease transactions and CLOs backed by loans to middle market companies.







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