By Mike Pagano, Head of Insurance Portfolio Management and Jeff Hobbs, CFA, Senior Insurance Portfolio Manager
How can insurers counter the margin compression resulting from new money rates lagging portfolio book yields? In a series of upcoming blog posts, we will highlight opportunities and risks across the six traditional levers that insurance companies can pull to offset this yield erosion.Read More
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 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.
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 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.
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.