| Global Fixed Income Bulletin • Sep 01, 2023 | |
Higher for longer, yes, but not much higher
Fixed Income Team
The Broad Markets Fixed Income team explains why they believe we are still close to the end of the rate hiking cycle, but why rates may remain range bound until the data proves otherwise.
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| Global Fixed Income Bulletin • Jul 31, 2023 | |
We’re All Data Dependent Now
Fixed Income Team
U.S. recession risk keeps receding, with many analysts, including the Fed research staff, now saying the highest probability scenario is no recession at all. But, despite this increased optimism, inflation has been behaving well. The Broad Markets Fixed Income team explains why this can be good for financial assets in their monthly outlook.
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| Global Fixed Income Bulletin • Jul 14, 2023 | |
Are we there yet?
Fixed Income Team
Crunch time will arrive later in 2023 as the cumulative effects of central bank tightening continue to bite and residual strength from pandemic fiscal policy support wanes if not disappears. Recession risks remain, but in our view, remain overblown.
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| Global Fixed Income Bulletin • Jun 14, 2023 | |
Underpromise and Overdeliver
Fixed Income Team
Expectations for the month of May were set low for the U.S. economy, but even with all the volatility during the month, the U.S. economy appeared to come out stronger. The Broad Markets Fixed Income team explores.
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| Global Fixed Income Bulletin • May 15, 2023 | |
Is the Tide Turning?
Fixed Income Team
After the woes of March, investors were gifted with a relatively mellow month in April. Yet given continued uncertainty, the Fixed Income Team recommends remaining flexible.
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| Global Fixed Income Bulletin • Apr 10, 2023 | |
Reasons to Worry (Or Not Worry)
Fixed Income Team
While the Fixed Income Team does not believe the events of March are a harbinger of a new financial crisis, it does point to weak links in the economy and increased stresses that are likely to unfold in the months ahead.
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| Global Fixed Income Bulletin • Mar 12, 2023 | |
The facts changed, so the market changed its mind
Fixed Income Team
After a very optimistic January, markets changed their view on the economic outlook in February. In recent market terms, the economic soft landing morphed into a no landing scenario. The Fixed Income team explores.
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| Global Fixed Income Bulletin • Feb 17, 2023 | |
Let the Good Times Roll! But for How Long?
Fixed Income Team
After yields rose dramatically in December, bond markets made a U-turn and fell dramatically in January. Markets do not simply change direction this abruptly without a reason, and in this case, there were many.. The Fixed Income Team explains.
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| Global Fixed Income Bulletin • Jan 31, 2023 | |
European Short Duration: An asset class for an uncertain world
Fixed Income Team
The prospect of less hawkish central bank policy should be supportive for short duration assets in 2023, according to the Broad Markets Fixed Income Team. They explore in this new whitepaper.
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| Global Fixed Income Bulletin • Dec 31, 2022 | |
2022: Good-Bye, Farewell, Amen!
Fixed Income Team
From a bond market perspective, 2023 starts in a stronger, more secure place. Yields are materially higher and spreads wider, suggesting much better 2023 performance. The Fixed Income Team explains.
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| Global Fixed Income Bulletin • Dec 15, 2022 | |
An Early Holiday Present
Fixed Income Team
Whether or not November's bond rally can continue will be determined by data. In the interim, the Fixed Income Team thinks investors should enjoy the early holiday present.
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| Global Fixed Income Bulletin • Nov 17, 2022 | |
Dazed and Confused
Fixed Income Team
Bond markets were a bit more orderly in October than the mayhem experienced in September. That said, markets were still mixed, and investors could be excused for feeling a bit dazed and confused with regards to volatility, dispersion of returns, illiquidity, central bank policies and deciphering how to determine value.
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| Global Fixed Income Bulletin • Oct 27, 2022 | |
Putting Income Back into Fixed Income
Fixed Income Team
The bond market rout continued in September, which would have been even worse without a substantial rally over the last three days of the month. The Fixed Income team shares its thoughts.
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| Global Fixed Income Bulletin • Sep 22, 2022 | |
Snap Back to Reality
Fixed Income Team
August ended the summer flirtation with bull market dreams. After strong recoveries in July, bond markets turned down once again in August, generating large negative returns. Yields, spreads, and equities have not (at least yet) returned to their June nadir.
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