While the market will remain volatile and likely lead to a period of outright panic, that is when having a “cool head” will pay off.
The adoption of negative interest rates will do little to stimulate growth.
While spreads have since narrowed, we are still finding bargains in high-yield bonds and bank loans.
Scott Minerd, Chairman of Investments and Global CIO, explains why the central banks in developed economies are getting trapped in current monetary policy, including negative interest rates and quantitative easing.
In our new quarterly publication, the leaders of our fixed-income investment team discuss relative value and the economic outlook in current market conditions.
Scott Minerd, Chairman of Investments and Global CIO, analyzes in 10 charts global macroeconomic trends most likely to shape the investment environment.
Agency MBS offers an opportunity to diversify volatility and liquidity risk as we near the end of the credit cycle.
Recent spread widening across several areas of the ABS market, particularly in post-crisis mezzanine CLOs, creates a compelling entry point.
Bank loan valuations weakened in sympathy with the high-yield bond market, but we believe investors are being well-compensated for credit risk.
A technical pricing dislocation in subordinated CMBS and non-traditional CRE offers a compelling entry point for commercial mortgage investors.
Investor demand for commercial mortgage loans was strong in 2015, but it remains to be seen whether the trend will continue in 2016.
After their first annual loss since 2009, our research suggests select high-yield bonds look attractive again on a risk-adjusted basis.
Credit fundamentals and market supply dynamics provide a tailwind for non-Agency RMBS.
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