Sector Views

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


 


December 23, 2019

Non-Agency Residential Mortgage-Backed Securities: The Future is Now

New issuance and trading activity in the RMBS market reflect a change in investor focus.


December 23, 2019

Rates: The Long Way Home

Opportunity knocks as Fed rate cuts are likely to steepen the yield curve.


October 29, 2019 | High-Yield and Bank Loan Outlook

Don’t Be Tempted by CCC Bonds and Loans

Lower-quality credit spreads have more potential to widen than tighten.


August 22, 2019

Agency Mortgage-Backed Securities: Prepayment Risks Rise as Mortgage Rates Drop

Prepayment risk for recently originated mortgages is high.


August 22, 2019

Asset-Backed Securities and CLOs: Aircraft ABS is Flying Off the Shelves

Investor demand for investment-grade credit is increasing competition for aircraft ABS.


August 22, 2019

Bank Loans: Favorable Technicals Lift Prices

Secondary loan prices rose in the second quarter on the back of robust CLO demand.


August 22, 2019

Commercial Mortgage-Backed Securities: CRE-CLO Evolution

The CRE-CLO product is in its early years while conduit is showing its age.


August 22, 2019

Commercial Real Estate Debt: The Rising Cost of Housing

Real estate investors mull the ramifications of rent control.


August 22, 2019

High-Yield Corporate Bonds: The Rally that Lacks Conviction

Not all prices in a strong first half were lifted equally by this Fed-induced rally.


August 22, 2019

Investment-Grade Corporate Bonds: Limited Upside

Positive performance could be tempered by any number of disruptive events in the third quarter.







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