Investment Management

Fixed Income

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.

04/03/2017

What is Investment Grade Private Credit?

By Chris Lyons, Head of Private Credit

Private credit is often viewed through the lens of mezzanine below-investment grade debt. But this is only a subset of the asset class. In fact, investment grade offerings account for a large part of the total market. So what do structure, pricing, and liquidity look like in the investment grade private credit market? How are deals sourced best in the investment grade market? The answer may come as surprise to some investors.

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.

03/10/2017

Wall of Maturity, Wave of Opportunity: Why Investors Should Consider Commercial Bridge Loans

By Chris Gorman, Head of Structured Finance

Near-term loan maturities in the commercial mortgage-backed securities market and increased regulations are creating compelling investment opportunities in commercial real estate bridge loans.

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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