Volatile market conditions call for a focus on loss-remote, amortizing bonds and CRE-CLO deals with proven sponsors.
As we near the end of the current expansion cycle, investors will continue to see attractive real estate debt opportunities.
While high-yield bond spreads have recovered some of the ground they lost in the fourth quarter, we caution against adding too much spread duration at this point in the cycle.
Complacent markets learned a valuable lesson in December as panicked investors found buyers had vanished.
Municipal bonds weathered fourth quarter volatility better than other fixed-income sectors, but careful selection remains key.
Wider spreads and inconsistent liquidity belie positive long-run fundamentals.
With one more rate hike expected by our macro research group, we believe this is the beginning of the end of the upward move in rates.
An uptick in corporate defaults in 2019 will mark the beginning of a prolonged period of stress in the corporate bond market.
The market shrugged off the Fed’s withdrawal as a buyer, but sector volatility could spike if prepayments rise.
CLO new issuance is on track for a record year; esoteric ABS gains in popularity.
Follow Scott Minerd Follow GuggenheimPtnrs
You are now leaving this website.Guggenheim assumes no responsibility of the content or its accuracy.
© 2020 Guggenheim Partners, LLC. All rights reserved. Guggenheim, Guggenheim Partners and Innovative Solutions. Enduring Values. are registered trademarks of Guggenheim Capital, LLC.
We use cookies on our site. You may control whether and how your browser accepts cookies; please see your browser help documentation for more information. To learn more about the information we collect and how we use it, view our Privacy Policy.