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BlogAssessing Inflation Through Five Commodity Price Themes
Explore recent developments in commodity prices through the lens of five themes.
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BlogThe ECB Cuts as all Indicators Point Down
The ECB’s Governing Council remained true to its mantra of “data dependence” at its October policy meeting, choosing to cut the main policy rate by 25 bps to 3.25%.
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BlogAnalysis of 4 Political Policy Areas on the U.S. Economy
A scenario analysis on four key areas related to the 2024 U.S. Elections, trade & tariffs, fiscal policy, immigration & labor supply, and monetary policy, all with significant economic impacts.
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BlogThe Impact of the U.S. Election on the Muni Market
This blog post covers key questions about the potential impact of the U.S. elections on the municipal bond market.
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BlogThe Case for Going Global, in Pictures
We’ve made the case—here, here, and here—that it’s generally a good time for fixed income given bonds’ revaluation to yields well above the secular stagnation levels that existed prior to the 2022 bear market. These higher yields, combined with the shift by most developed market central banks from rate hikes to cuts, suggest that this sleeper bull market is set to continue. But how does global fixed income fit within this context?
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BlogFive Risks U.S. Tariffs Pose to EU Competitiveness
We see five reasons why renewed trade tensions could be particularly economically damaging for the EU at this fragile time.
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BlogFinely Balanced Decision Tips BoE to Cut
The Bank of England cut rates by 25 bps at its August policy meeting, but a series of aggressive rate reductions are likely off the table.
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BlogThe BoJ’s Leap of Faith on the Road to Normalisation
A hawkish Bank of Japan lifted its policy rate and announced quantitative tightening at its July 2024 meeting.
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BlogA Look Under the Hood of China’s EV Sector
The third post in our Great Power Competition (GPC) series takes a closer look at factors that make China’s electric vehicle (EV) sector one of the more formidable global players.
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BlogThe Weaponization of Statecraft and its Investment Implications
While the use of statecraft has been a prominent feature of all global orders, the frequency and potency of its deployment has never been higher than in the current geopolitical environment.
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BlogThe Credit and Decarbonization Impacts of Sustainable Aviation Fuel
Sustainable aviation fuel (SAF) is a viable solution to decarbonizing aircraft travel but due to the slow pace of SAF uptake, airlines may fall short of their publicized decarbonization goals.
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BlogNot All AAA CLO ETFs are Created Equal
Actively managed AAA CLO ETFs provide access to the highest-rated CLO tranche but not all AAA CLOs are created equally, and actively managed ETFs are showing notable dispersion in positioning.
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BlogThe Growing Dispersion in the Muni Hospital Sector
Rapidly changing dynamics in the hospital sector currently present an opportunity to generate alpha by investing in certain subsectors and geographies while actively avoiding others.
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BlogThe Case for Rebalancing into Bonds, in Pictures
In the current market environment, we see a compelling case for rebalancing into bonds vs. both stock and cash.
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BlogA Most Hawkish Hike by the ECB
The ECB’s June rate hike and its confirmation of a faster balance sheet reduction were in line with expectations. However, President Lagarde’s decidedly more hawkish tone was a surprise.
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BlogThe Implications of China’s Far-From-Typical Recovery
China’s current recovery is emerging unlike others, leaving the global economy without the familiar engine to pull it forward as recession concerns linger throughout much of the world.
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BlogWill the Fed’s Policy Bundle Morph into a Bungle?
The Federal Reserve’s decision to hold monetary policy steady was expected but its arrival carries a set of nuanced ramifications.
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BlogWhy London still rules when it comes to housing
As the capital continues to see the strongest residential demand in the UK, ongoing supply/demand tension will keep upward pressure on rents, in our view.
