Sector Views

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


 


May 18, 2017

Non-Agency Residential Mortgage-Backed Securities: Goldilocks Technicals Support Positive Outlook

Low supply, improving fundamentals, and investable scale form a constructive backdrop.


May 18, 2017

Rates: Keeping an Eye on Fed Tapering

Watch for a possible trade up in quality as credit spreads stay tight.


April 17, 2017 | High-Yield and Bank Loan Outlook

High-Yield and Bank Loan Outlook: Tight Spreads Call for Caution

We expect investors to harvest gains unless we see more concrete legislative progress on fiscal policy in Washington.


February 17, 2017

Post-Crisis Tights

With CLO debt at post-crisis tights, we prefer less credit risk and spread duration.


February 17, 2017

Prepayment Risk Diminishes

The likelihood that rates will rise means that prepayment risk has decreased dramatically.


February 17, 2017

Vanishing Spreads Amid Refi Activity

Tighter loan spreads cause some concern, but the gradual increase in Libor keeps loans looking attractive.


February 17, 2017

Strong Demand, Short Supply

Remain vigilant on property valuations.


February 17, 2017

Foreign Demand Remains Strong

The flow of funds from foreign sources into U.S. real estate will be important in 2017.


February 17, 2017

Priced for a Fundamental Recovery

We are constructive on high yield but keeping an eye out for signs of an over-extended rally.


February 17, 2017

Caution as Spreads Grind Tighter

Yields look attractive compared to six months ago, but spreads have discounted the potential for pro-growth fiscal policies.







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