Chairman of Investments and Global Chief Investment Officer Scott Minerd leads Guggenheim Partners’ macroeconomic and investment research functions. Together, our team of economists, strategists, and analysts provides investors with economic and policy analyses and assessments of their potential impacts on asset prices.


 
Market Perspectives

Sustainable Development: The Future of Investing

Scott Minerd, Chairman of Investments and Global CIO, explains in the Milken Institute’s Power of Ideas why sustainable development will be a key component of long-term investment performance.

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Macro View

Brexit Reaction: Keep Calm and Carry On

In the long run there are certainly issues to be sorted through, but in the short run Brexit is a buying opportunity.

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Sector Report

High-Yield and Bank Loan Outlook – July 2016

Despite the selloff following Brexit, high-yield bonds and bank loans still turned in impressive quarterly returns, but recovery rates bear watching.

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Media Appearance

Minerd: The Market Is At A Tipping Point

Scott Minerd, Chairman of Investments and Global CIO, visits CNBC to discuss economic weakness in Europe and Japan and central banks’ policy response to those conditions.

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Portfolio Strategy

Q2 2016 Fixed-Income Outlook: Chart Highlights

At a glance, selected charts from our Q2 2016 Fixed-Income Outlook summarize our current economic outlook and views on relative value.

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Minerd on WealthTrack: Fixed Income Strategy in a Negative Rate World

Scott Minerd, Chairman of Investments and Global CIO, discusses challenges and opportunities in today’s market with WealthTrack’s Consuelo Mack.

“The Fed is now hostage to the markets,” Minerd warned Mack as they discussed market challenges and opportunities on a recent edition of PBS' WealthTrack. “The problem is that as central banks around the world keep searching for new ways to stimulate the economy, it’s creating imbalances, so we’re slowly seeing asset classes get inflated.”

For investors, this dynamic creates an unusual conundrum: Where to find assets that represent value given the heightened risk inherent in a global economy awash in manipulated liquidity. In the following video series, including highlights from the interview, Minerd shares insights on how careful security selection and a disciplined approach to investing can help steer investors through challenging market conditions.

 

Recent Perspectives

March 17, 2016

Agency Residential Mortgage-Backed Securities: 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.

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March 17, 2016

Asset-Backed Securities and CLOs: 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.

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March 17, 2016

Bank Loans: 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.

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March 17, 2016

Commercial Mortgage-Backed Securities: 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.

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March 17, 2016

Commercial Real Estate Debt: 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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March 17, 2016

High-Yield Corporate Bonds: Compelling Relative Value Despite Volatility

After their first annual loss since 2009, our research suggests select high-yield bonds look attractive again on a risk-adjusted basis.

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March 17, 2016

Non-Agency Residential Mortgage-Backed Securities: Strong Credit Performance, Favorable Supply Dynamics

Credit fundamentals and market supply dynamics provide a tailwind for non-Agency RMBS.

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March 17, 2016

Rates: Risk, But Not Much Reward

With higher yields and shorter durations, Agency bonds represent better value than U.S. Treasurys in 2016.

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March 17, 2016

Municipals: Strong Fundamentals Despite Headline Risk

With the exception of well-known problem credits, such as Puerto Rico and Chicago, fundamentals in the municipal bond market remain strong.

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March 17, 2016

Investment-Grade Corporate Credit: Higher Yields for Strong Convictions

Widening spreads and higher yields in investment-grade corporates presents opportunities to add selectively to positions where our credit conviction remains unchanged.

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