Fixed Income 2013 Outlook
As 2012 winds down, bond investors are reflecting on a good year but questioning what 2013 has in store. Bond investors have enjoyed a good year in 2012, with the bond market on pace to finish the year...
View ArticlePurchases Persist
This week’s meeting of the Federal Reserve (Fed) policymakers has seemingly received little fanfare as negotiations over the “fiscal cliff” continue in Washington and dominate the headlines. Yet the...
View ArticleWaiting for the Spring
Municipal bonds have struggled in February following a good start to 2013. Price declines have translated to modest losses for investors in February, but on a positive note, year-to-date municipals...
View ArticleBack to the Highs
Bond yields are back to the highs of the year after gains from the prior week were more than erased. A stronger-than-expected employment report, continued stock market strength, and reduced fiscal...
View ArticleRecurring Themes
Lower-rated bonds led performance within the bond market during the first quarter of 2013, continuing a theme from 2012. The combination of higher yields and good fundamentals led to price gains among...
View ArticleAssessing Interest Rate Risk
It seems there is no shortage of investors willing to forecast the impending doom for the bond market stemming from a reversal of the long decline in interest rates. Last week, the commissioner of the...
View ArticleMiserable May
All eyes are on this week’s release of the monthly employment report (on Friday, June 7, 2013), as high-quality bonds concluded one of their worst monthly performances of the past 10 years. The broad...
View ArticleThe Yield Rally Continues
In a previous life as a bond trader, my colleagues and I would try to find solace amid bond market sell-offs by focusing on the rise in yields as a potential opportunity going forward. The “yield...
View ArticleWhen Will the Selling Stop?
The past week brought about the summer solstice, the official start of summer, but for bond investors it feels more like the dead of winter. Bond weakness continued in response to a Federal Reserve...
View ArticleMany Happy Returns
The phrase “many happy returns” is often used for a birthday greeting and meant to augur a long, successful life. More broadly, the term can be used as a greeting to offer hope that a festive event...
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