Investment Management

Fixed Income

05/02/2017

VAR, What is it Good For?

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?

04/17/2017

Is It Too Late to Buy High Yield? Rebuttals for 3 Common Arguments Against the Asset Class.

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.

04/10/2017

Global Economic Performance: Who is in the Driver’s Seat?

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.

03/20/2017

Credit Spreads Are Tight. But Are They Overvalued?

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.

01/26/2017

Another Tailwind for Credit Risk Transfer?

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.

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