Chairman of Investments and Global Chief Investment Officer Scott Minerd leads Guggenheim Partners’ macroeconomic and investment research functions. Together, our team of economists, strategists, and analysts provides investors with economic and policy analyses and assessments of their potential impacts on asset prices.


 
Market Perspectives

Sustainable Development: The Future of Investing

Scott Minerd, Chairman of Investments and Global CIO, explains in the Milken Institute’s Power of Ideas why sustainable development will be a key component of long-term investment performance.

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Macro View

Why the G7 May Be Hastening Helicopter Money

Faced with a sharply appreciating yen, and lacking G7 support, Japan may need to take extreme measures.

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Sector Report

High-Yield and Bank Loan Outlook – April 2016

While spreads have since narrowed, we are still finding bargains in high-yield bonds and bank loans.

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Media Appearance

Minerd on WealthTrack: Fixed Income Strategies in a Negative Rate World

Scott Minerd, Chairman of Investments and Global CIO, discusses challenges and opportunities in today’s market with WealthTrack’s Consuelo Mack.

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Portfolio Strategy

Fixed-Income Outlook: Managing Through a Persistent State of Heightened Volatility

In the second quarter 2016 edition of the Fixed-Income Outlook, the leaders of our fixed-income investment team discuss relative value and our current economic outlook.

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Minerd on WealthTrack: Fixed Income Strategy in a Negative Rate World

Scott Minerd, Chairman of Investments and Global CIO, discusses challenges and opportunities in today’s market with WealthTrack’s Consuelo Mack.

“The Fed is now hostage to the markets,” Minerd warned Mack as they discussed market challenges and opportunities on a recent edition of PBS' WealthTrack. “The problem is that as central banks around the world keep searching for new ways to stimulate the economy, it’s creating imbalances, so we’re slowly seeing asset classes get inflated.”

For investors, this dynamic creates an unusual conundrum: Where to find assets that represent value given the heightened risk inherent in a global economy awash in manipulated liquidity. In the following video series, including highlights from the interview, Minerd shares insights on how careful security selection and a disciplined approach to investing can help steer investors through challenging market conditions.

 

Recent Perspectives

May 26, 2016

Why the G7 May Be Hastening Helicopter Money

Faced with a sharply appreciating yen, and lacking G7 support, Japan may need to take extreme measures.

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May 24, 2016

Fixed-Income Outlook: Managing Through a Persistent State of Heightened Volatility

In the second quarter 2016 edition of the Fixed-Income Outlook, the leaders of our fixed-income investment team discuss relative value and our current economic outlook.

Read More


May 20, 2016

Sustainable Development: The Future of Investing

Scott Minerd, Chairman of Investments and Global CIO, explains in the Milken Institute’s Power of Ideas why sustainable development will be a key component of long-term investment performance.

Read More


May 03, 2016

Complacency in Uncharted Waters

Solely relying on monetary policy for market stability is inherently destabilizing, and yet central bankers continue to deploy aggressive monetary policy with no end in sight. The Fed’s balance sheet in pre-crisis 2007 was just 6 percent of nominal gross domestic product (GDP); today it is 25 percent. The European Central Bank’s (ECB) balance sheet has gone from 13 percent to 26 percent of euro zone GDP in that same time period. The Bank of Japan is on another monetary planet entirely, having grown its footings from 22 percent to 77 percent of GDP over that same timeframe. The result is an eerie calm in the market, but under these still waters lurks a leviathan.

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April 13, 2016

High-Yield and Bank Loan Outlook – April 2016

While spreads have since narrowed, we are still finding bargains in high-yield bonds and bank loans.

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April 07, 2016

The Global Liquidity Trap Turns More Treacherous

The adoption of negative interest rates will do little to stimulate growth.

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March 17, 2016

Fixed-Income Outlook: First Quarter 2016

In our new quarterly publication, the leaders of our fixed-income investment team discuss relative value and the economic outlook in current market conditions.

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March 17, 2016

Agency Residential Mortgage-Backed Securities: Gaining from the Flight to Quality

Agency MBS offers an opportunity to diversify volatility and liquidity risk as we near the end of the credit cycle.

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March 17, 2016

Asset-Backed Securities and CLOs: Yield Premiums in Select ABS

Recent spread widening across several areas of the ABS market, particularly in post-crisis mezzanine CLOs, creates a compelling entry point.

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March 17, 2016

Bank Loans: Sympathetic Widening Yields Opportunity

Bank loan valuations weakened in sympathy with the high-yield bond market, but we believe investors are being well-compensated for credit risk.

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