Insights

Alpha Engine Perspectives

September 18, 2019•2 min read

Bank Loans: Don’t Swipe Left

Losing interest in bank loans now that rates have begun to fall? Here are two factors that might have you[…]

Full Discretion

Alpha Engine Perspectives

March 29, 2019•4 min read

Subprime Auto ABS: Focus on Fundamentals, Not Fear

The subprime consumer sector has come a long way since the dark days of the financial crisis. Borrowers, lenders and[…]

Mortgage & Structured Finance

Alpha Engine Perspectives

January 7, 2019•2 min read

Let’s Get Technical: The Story Behind the Loan Market Swoon

Wary investor sentiment, seasonal trading activity in loans, and a big institutional seller have combined to drive down loan prices[…]

Full Discretion

Alpha Engine Perspectives

July 19, 2018•4 min read

Can’t Build Them? Join Them: Rising Home Prices & Lack of Construction

There’s a tug of war brewing between housing costs and consumer budgets in the US. Single-family home prices have risen[…]

Mortgage & Structured Finance

Alpha Engine Perspectives

June 13, 2018•2 min read

Nothing to See Here: Rising 10-Year Treasury Yields in Context

While the recent backup in 10-year Treasury yields may look stark on short-term charts (namely 1-year and 2-year charts), the[…]

Relative Return

Alpha Engine Perspectives

May 22, 2018•3 min read

Is Foreign Demand for US Corporate Bonds at an Inflection Point?

The US corporate bond market reached a record $8 trillion at the end of 2017. The high followed a wave[…]

Custom Income Strategies

Alpha Engine Perspectives

April 27, 2018•3 min read

Three Strategies to Prepare for Rising Volatility

We all knew volatility couldn’t stay low forever, even with solid global growth and low inflation. Rising volatility is common[…]

Alpha Strategies

Alpha Engine Perspectives

February 16, 2018•2 min read

China’s Bond Markets – Two Reasons Why the Year of the Dog Might Have Some Bite

The Year of the Dog may not be known for being the most auspicious, but for China’s local, renminbi-denominated bond[…]

Global Fixed Income

Alpha Engine Perspectives

February 9, 2018•5 min read

How the Spike in Volatility Punctured the “Short Vol” Trade

For most investors, it’s pretty unsettling to hear that the market’s “fear gauge” is suddenly on a tear. But that’s[…]

Full Discretion

Alpha Engine Perspectives

October 27, 2017•2 min read

Don’t Cry for the Argentine Peso

The Argentine peso has depreciated by more than 40% since 2015, but I believe it is due for stabilization and[…]

Full Discretion

Alpha Engine Perspectives

August 18, 2017•3 min read

Avoid Being “Burned” by Bank Loans

When talking with potential investors, a refrain we often hear is “I was burned by bank loans before, and now[…]

Full Discretion

Alpha Engine Perspectives

June 2, 2017•3 min read

Commodity and Emerging Market Performance – Is This Divergence Sustainable?

Emerging market (EM) assets were hit hard by the crash in commodity prices in 2014-2015, but so far this year,[…]

Alpha Strategies