All Government Bonds articles – Page 5
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White papersMacroeconomic and financial market forecasts - October 2023
Macroeconomic forecasts as of 9 October 2023
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White papersA bond market bruising: market snapshot
The yield on global government bonds reached multi-decade highs this week, as markets adjust to a sustained period of higher interest rates.
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White papersHigher for Longer, Longer the Stronger
We are leaning into quality as markets start to focus away from near-term tailwinds and onto medium-term headwinds.
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White papersMarkets hit by ‘higher for longer’ rate expectations
After a volatile September, the S&P 500 Index is heading towards its first quarterly loss in 12 months.
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White papersThe BoE’s “Table Mountain” Approach Sees Rates Highest for Longest
The Bank of England kept its Bank Rate on hold at 5.25% on September 21, 2023. The UK’s economic backdrop is weak, so we believe that the BoE will keep interest rates at this level for the near future.
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White papersThe Fed’s Higher-for-Longer Mantra is OK for Bonds
The Federal Reserve indicated that policy rates will likely remain elevated for some time and that neutral policy may indeed be higher than previously projected at its September 20, 2023 meeting.
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White papersIncome Generator: Back in Bonds
Bonds are once again becoming a cornerstone allocation within portfolios. We explain five actions bond investors could consider to capitalize on current trends we’ve identified.
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White papersThe Limited Impact of the U.S. Downgrade on Munis
The credit quality of states as a group is not constrained by the U.S. sovereign rating and we don’t expect the U.S. downgrade to have an outsized impact on muni bond valuations going forward.
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White papersNYC Congestion Tolling: Winners, Losers and Unintended Consequences
Investors in municipal bonds are following the NYC congestion tolling situation as the MTA is a frequent borrower in the municipal bond market, but they are not the only borrower impacted by the program.
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White papersFrom Low Ranger to High Plains Drifter
With the vast majority of rate hikes behind us, market volatility is set to fall. A tailwind from the reemergence of the “search for yield” is likely to follow.
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White papersShould investors fret over talk of China heading for a ‘balance sheet recession’?
China’s economy shows symptoms of a ‘balance sheet recession’, which can destroy wealth and confidence, force economic agents to cut spending, and create a debt deflation spiral and prolonged stagnation. So should investors worry?
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White papersThe what, why and how of the global fixed income and municipal markets
The evolving fixed income market environment: Key 2023 themes
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White papersMacroeconomic and financial market forecasts - July/August 2023
Macroeconomic forecasts as of 17 July 2023
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White papersThird Quarter 2023 Market Outlook
Despite a series of rolling crises, the global economy avoided the worst of potential outcomes in the first half of 2023. The reprieve reframes our outlook for the second half of the year and beyond.
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White papersAppraising Swiss bonds: what does price tell us?
Unlike equity prices, bond prices usually depend on elements beyond the fundamental valuation of the underlying entity. In fact, the price on its own typically says little.
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White papersFixed Income Investment Outlook: 3Q 2023
Central banks are finding it hard to finish the long journey toward inflation normalization, but we believe that policy rates are likely at or near their peaks—and could be maintained at elevated levels for some time. In an environment of slowing growth, restrictive monetary policy and rising idiosyncratic risk, we favor shorter durations, quality and a focus on security selection.
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White papersRelative Value & Tactical Asset Allocation: Q3 2023
As most central banks are nearing the end of the hiking cycle, JP Morgan’s Global Manufacturing PMI Index remained at a level consistent with a contraction. It was the ninth consecutive month below the neutral level of 50.
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White papersGlobal Risks 2023 – Mid-Year Review
Since our last global risks update in January, we believe risks have increased, on balance.
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White papersRate Reduction Bonds - Finding Value in an Esoteric Market
Born out of deregulation in the 1990s, rate reduction bonds (RRBs) are increasingly used by utilities to fund costs associated with natural disasters and help fund the transition to clean energy. Securitized by fees charged to a utility’s customers, they typically provide predictable cashflows and are of generally high credit quality.
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PodcastIndependence Day 2023: A Look Across U.S. Municipalities
Dennis Derby and Christine Collins discuss the upcoming Fourth of July holiday and specific reasons for investors to celebrate muni investing in the U.S.
