A decline in institutional loan gross issuance offsets lower demand from mutual funds.
Late-cycle loan market competition is putting pressure on CMBS issuers, but opportunities remain to position defensively.
As the retail sector continues to struggle, investors compete for industrial opportunities driven by e-commerce.
Rising Treasury yields may weigh on high yield for the balance of the year, but positive returns should continue with additional spread compression and coupon clipping.
A dovish Fed, strong fundamentals, and growing demand support investment-grade corporate bond sector performance.
The rally in credit, retail demand, and subdued supply have driven municipal bond spreads to historical tights.
Value remains in select pre-crisis RMBS, but market focus is shifting to new issue.
The Fed’s policy pivot sets the stage for attractive opportunities in higher-quality rates products.
After the recession starts, high-yield bond and bank loan issuers have at least a 12-month runway before we experience a large wave of defaults.
With solid fundamentals and fair valuations in a period of weak technical factors, select Agency MBS appears relatively attractive.
Follow Scott Minerd
You are now leaving this website.Guggenheim assumes no responsibility of the content or its accuracy.
Your browser does not support iframes.
2021 Guggenheim Partners, LLC. All rights reserved. Guggenheim, Guggenheim Partners and
Innovative Solutions. Enduring Values. are registered trademarks of Guggenheim Capital, LLC.
how your browser accepts cookies; please see your browser help documentation for more