By Kurt Kringelis, CFA, CPA, JD, Head Macro Credit Strategist and Reuben Weislogel, CFA, CAIA, Quantitative Fixed Income Analyst
In April, we provided support for allocations to high yield by rebutting three common arguments against the asset class. “Retail is the new energy” was an argument against high yield in April and one that continues today. Given the headlines surrounding the “demise” of retail, we believe it is appropriate to offer investors a deeper analysis of the topic and provide a broader perspective across credit markets.Read More
By Brian Timberlake, CFA, PhD, Head of Fixed Income Research and Peter-Paul Hoogbruin, FRM, Market and Credit Analysis
While no one measure is capable of capturing the full breadth of risk within a fixed income portfolio, VAR (Value at Risk) is an important measure within an investor’s tool kit. However, like any tool, VAR must be used with a full understanding of its benefits and drawbacks. With this in mind, we set out to answer: VAR, what is it good for?
By Randy Parrish, CFA, Head of Credit and Rick Cumberledge, CFA, Head of High Yield
Many “experts” have recently warned of impending doom in the high yield bond market. High yield returns have certainly been impressive since the energy- and commodity-led sell-off of late 2015/early 2016, but our view of today’s economic and market landscape doesn’t lead us to the conclusion that the end is near. Rather, we find reasonable value in the market and used the March sell-off to add high yield exposure.
By Guy Petcho, Global Macro Portfolio Manager, Fixed Income
As global policymakers impact the trajectory of global growth, we explore the true drivers of the markets, and ask how fixed income investors should be thinking about portfolio positioning.
By Kurt Kringelis, CFA, CPA, JD, Head Macro Credit Strategist
Spreads for U.S. credit are hovering around their lowest level since the 2008 financial crisis. But that doesn’t necessarily mean they are overvalued.
By Dave Goodson, Head of Securitized Investments, Fixed Income
Recent developments in the insurance space should be a positive for liquidity dynamics in the Credit Risk Transfer sector going forward.