Ten years have passed since the financial crisis and many pundits are using this arbitrary anniversary to prognosticate the next great financial calamity. This week, CLOs take their turn in the spotlight.
Despite increasing credit risk, we believe loans will dampen portfolio volatility this year, much as the asset class did in 2018.
Headlines only focus on leverage—but there’s more to the story.
Credit fundamentals remain largely intact.
Four recent examples highlight the disparate impact tax reform can have on fixed income investors.
Analyzing the source of recent volatility can help investors determine if recent spread widening is a symptom of broader systemic risk...
Most investors are viewing the potential impact of proposed tax reform through the lens of corporate earnings and economic growth. In our latest analysis, we take a more nuanced look to understand how current proposals might effect corporate behavior and credit spreads.
Risks posed by recent storms are accounted for within RMBS structures and evaluated by investors. However, given the magnitude of the potential devastation associated with these recent storms in such a short time period, it is prudent to reassess this risk.
As we were recently reminded, hurricanes, like other natural disasters, have the potential to be devastating and disrupting events. As Florida and Texas begin the recovery and rebuilding process, historical context provides perspective about the likely impact these storms will have.
Comparing current economic data with 2007 data provides helpful context for the path forward. Our analysis reveals that the U.S. housing market still has meaningful upside. In fact, from several perspectives, we are still in the recovery phase.
Eight years into the slow and steady recovery of the economy and markets, complacency has hit record highs. As the era of complacency continues, we take a closer look at how investors are positioned and why it makes sense to add a little protection to your portfolio before volatility returns.