Webcast with Joseph Taylor, as of May 2013
We do not think there is any imminent threat to the banking system from bad debt. Nor do we think there is any imminent threat to social stability. But we do anticipate more defaults, short-term liquidity crises in China.
Tom Fahey, Associate Director of Macro Strategies, reviews the bond market’s most recent quarter, which was characterized by low volatility, low yields and relatively stable credit spreads. The last several years have been a major bond bull market, particularly 2012, but with yields at low levels, there is not much room left for bond price appreciation and we should be comfortable with earning our yield and carry.
Will rates rise? While recent cyclical improvements suggest the US economy is heating up, we do not expect interest rates to start soaring to record highs. There are secular headwinds cooling rates, and we expect them to persist for years to come.
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Webcast with David Rolley, as of April 2013
In a low interest rate world, there’s a number of things that portfolio managers can do to try to find value.
Webcast with Elaine Stokes, as of March 2013
It’s not enough to just be in the market-- you have to look at all the different sectors of the market place and find the bonds that have a story and have a real reason to go up.
A manager's alpha thesis can offer insight into an investment strategy's performance potential. Our Large Cap Growth alpha thesis is the differentiated philosophy & process behind what we do every day. Content approved for institutional investors & investment professionals only.
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With many equity indices eclipsing previous highs, Richard Skaggs, Senior Equity Strategist, explores our outlook for dividend-paying stocks, many of which continue to boast yields comparable to or higher than US Treasurys.
Bank Loan Portfolio Managers, John Bell and Kevin Perry, answer questions about covenant-lite loans.
Duration is often not a sufficient measure for understanding a portfolio's exposure to interest rate changes. David Waldman, Director of Quantitative Research Risk Analysis, sheds light on some misconceptions and limitations of duration, one of the most popular tools for portfolio analysis.
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