Viewpoints about fixed income
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Active engagement: how top ESG managers make a difference
Rather than merely excluding companies, today’s top ESG portfolio managers directly engage firms to combine financial returns with positive impact.
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Today's macro risks in emerging markets look relatively benign
The macro risks in today's global economy are mostly tied to developed economies. Here's why emerging markets look comparatively attractive.
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Time remains in this market cycle, but expect muted returns
The art of asset allocation resides in maintaining globally diversified exposure across capital markets—finessed by favorable relative calls on the margin. See where we’ve leaned in—and lightened up.
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Hedging downside risks after high yield's big run
Our network is growing more cautious on high-yield bonds after their recent rally. See why investment-grade corporate debt can help offset some of the risks.
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Expect continued muni bond volatility heading into 2017
We see a number of headwinds for municipals in 2017, including pension liabilities, uncertainty around Mr. Trump’s policies, more hawkish Fed policy, and global macro uncertainties.
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ESG investing is a better way to know your borrowers
ESG investing offers more than just the opportunity to better align investors’ portfolios with their values—it represents a more holistic approach to traditional credit analysis.
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Last call for higher interest rates in 2016
The Fed has been hoping to raise interest rates all year, and December may be its last best chance for the foreseeable future.
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Navigating the new normal: fixed-income investing in a world of mounting risks
With anemic yields the norm, fixed-income investors everywhere are facing similar challenges. A global multisector approach can help, but only if actively managed currency exposures are part of the mix.
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U.S. equities: why the most hated bull market of all time may surprise to the upside
We see a pair of consensus themes developing that, in our view, merits a measure of skepticism—the notion that bonds will be fantastic forever and that U.S. stocks are on their last legs.
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Opening your search for yield to the closed-end fund market
In a world characterized by low yields, low economic growth, and low expected returns, many closed-end funds offer distinctive features that may be particularly suited to address these challenges.
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