Sector Views

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


 


May 24, 2016

Demand for Loans May Exceed Supply

While commercial real estate fundamentals remain strong, strains on loan supply could cause borrowing costs to tick higher in 2016.


May 24, 2016

Revenue Bonds Trump General Obligations

We selectively favor bonds supported by dedicated revenue streams.


May 24, 2016

Agency MBS Has Global Appeal

U.S. housing market dynamics and low/negative rates overseas should drive demand for Agency MBS.


May 24, 2016

Flight to Quality Benefits Treasurys

U.S. rates products will remain relatively attractive, given extremely low to negative global bond yield levels.


April 13, 2016

High-Yield and Bank Loan Outlook – April 2016

While spreads have since narrowed, we are still finding bargains in high-yield bonds and bank loans.


March 17, 2016

Gaining from the Flight to Quality

Agency MBS offers an opportunity to diversify volatility and liquidity risk as we near the end of the credit cycle.


March 17, 2016

Yield Premiums in Select ABS

Recent spread widening across several areas of the ABS market, particularly in post-crisis mezzanine CLOs, creates a compelling entry point.


March 17, 2016

Sympathetic Widening Yields Opportunity

Bank loan valuations weakened in sympathy with the high-yield bond market, but we believe investors are being well-compensated for credit risk.


March 17, 2016

Time to Focus on Neglected Credits

A technical pricing dislocation in subordinated CMBS and non-traditional CRE offers a compelling entry point for commercial mortgage investors.


March 17, 2016

2016 Could Be a Supply Story

Investor demand for commercial mortgage loans was strong in 2015, but it remains to be seen whether the trend will continue in 2016.







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