Fixed income
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The hidden opportunity behind rising real rates
The surge in policy rates since March 2022 has left its mark on the U.S. economy, particularly pockets that are more interest-rate sensitive; however, it may have also created a rare entry point for fixed-income investors. Learn more.
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New opportunities in today's volatile agency mortgage-backed securities market
Agency MBS have lagged in the most recent cycle due to a shift in U.S. Federal Reserve policy as well as interest-rate volatility. This uncharacteristic performance has created an opportunity, particularly for active managers that can tilt portfolios toward higher coupon mortgage pools.
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A back-to-school bond math refresher on timely fixed-income opportunities
While bond market volatility has recently been elevated, we continue to go back to the basics and focus on the currently favorable math in the high-quality bond market, where yields have reached the highest level in 15 years by one measure.
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Why does my SMA use completion funds?
Although investors might initially be surprised to see completion funds listed as a holding within their SMA, their use can provide several important benefits that can help enhance performance.
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Banking stress has created a yield premium for preferred securities
The banking crisis has weighed on related securities, including banks' preferred securities, which make up nearly half of the preferreds market. Our expert analysis examines what could be next and discusses how the flexibility provided by active management might benefit investors in this asset class.
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The pause before the pivot: positioning bond portfolios for an evolving policy landscape
After aggressive tightening from central banks and a broad repricing of risk, yields in the bond market are now higher than they've been in more than 15 years. The question investors now face is how to position portfolios given today's abundant opportunities—but also in light of the growing risks and looming policy shifts on the horizon.
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Time to move out of cash and short duration fixed-income strategies?
We could be about to enter a new phase of fixed-income markets—one that’s accompanied by a risk factor that had slipped under the radar while interest rates were on the rise: reinvestment risk. Learn more.
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Municipal bonds could provide stability in an uncertain market
As market uncertainty continues to linger, municipal bonds present an opportunity for investors to generate income without taking on a significant amount of risk.
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As market conditions tighten, can emerging-market debt weather the storm?
Recent events have increased the probability of a U.S. recession and could hamper global economic growth. We examine how this macroeconomic backdrop could affect emerging-market debt.
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A glass half full: bonds now offer better values than they have in years
With yields significantly higher today than they were just a year ago, finding income opportunities in the bond markets is no longer such a daunting challenge. The issue now for investors lies in positioning their portfolios for what comes next. We take a closer look at the stakes.
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