Investors often ask us which of the two primary bond market risks—interest rate or credit—they should focus on in 2017. Our answer? Both of them—and the interaction between the two.
Investors have had mixed experiences with alternative investments lately, as the market landscape has made it hard for managers’ skills to shine. It’s time to ask some pointed questions to get the right fit.
After lagging the market for years, US financial stocks surged after Donald Trump’s surprising win in the US presidential election. Investors can still profit from investing in banks; in our view, many of the best opportunities now lie in the micro-cap banks the rally left behind.
US Federal Reserve Chair Janet Yellen offered an upbeat assessment of the US economy, signaling that further rate hikes are in store for 2017. But will the Fed also reduce the size of its balance sheet?
There’s value and opportunity in European high-yield bonds today. But if you’re considering using an exchange-traded fund (ETF) to tap into the market, you may want to think again.
These are uncertain times in markets, and that creates a dilemma for investors who need high levels of income but can’t stomach a high level of risk. We have a solution. Actually, we have two.
Stable stocks are out. Riskier reflation plays are in. But who knows which way fickle market winds will blow tomorrow? That’s why strategies that harness stability and good judgement never go out of style.
Confucius wrote, “The green reed which bends in the wind is stronger than the mighty oak which breaks in a storm.” We believe that, similarly, municipal investors who choose flexible mandates will be well equipped for any type of weather.
Fresh concerns about Greece’s debts have prompted new worries across Europe. But another compromise looks likely—European leaders can ill afford a full-blown Greek crisis amid so much regional political uncertainty.
If President Trump’s promise to increase defense spending comes to fruition, it would sharply reverse the trend of the past five years—and have important implications for the outlook on US growth and inflation.