The average US 30-year mortgage rate declined for a sixth straight week to the lowest level since early December, sparking a pickup in purchase and refinancing activity.
There has been further indication that the U.S. will underperform during a negative market, according to DoubleLine's Jeffrey Gundlach.
Germany is newly motivated to reconsider its fiscal restraint.
Stock/bond divergence allows investors to reap the benefits of portfolio diversification, giving bond exchange-traded funds credence.
US consumer prices rose at the slowest pace in four months in February, offering some reprieve ahead of tariffs that are expected to drive costs higher.
Treasuries fell despite evidence of cooler-than-expected US inflation as the data ignited a rebound in stock prices that eroded demand for bonds.
Volatility across financial markets has become a persistent theme in 2025. The recent volatility has stemmed from a range of factors, including:
Global investment themes are shifting toward infrastructure, cybersecurity and energy expansion as demand outpaces supply in key sectors.
Parametric’s tax optimized ladders (TOL) solution may help to enhance after-tax yield by seeking to optimize the allocation between tax-exempt and taxable bonds, based on an investor’s own tax rate and the relative value between sectors.
This video looks at the 10-year Treasury yield's historical trends since 1962, exploring its relationship with key economic indicators like the Fed Funds Rate (FFR), inflation, and the S&P 500.
US Treasuries surged and investors boosted their bets on Federal Reserve interest-rate cuts Monday as fear of a economic slowdown took hold across US markets.
At the start of the year, our Investment Strategy Committee outlook was positive for both the economy and the equity market, supported by strong consumer, labor market, and corporate fundamentals.
On February 19, 2025, the Fed made a confounding statement about QT, aka balance sheet reduction. Per its latest FOMC minutes: “several participants suggest halting or slowing balance sheet reduction pending debt ceiling resolution.” Might the Fed be offering investors a liquidity warning cloaked as a reaction to a fiscal crisis?
One of the bond market’s favorite trades is getting fresh momentum in Europe, as the worst rout in German bonds in more than two decades propels selling of long-term debt.
A chorus of Wall Street strategists is warning about rising volatility in the stock market, with Morgan Stanley’s Michael Wilson the latest to sound the alarm on slumping economic growth amid President Donald Trump’s trade wars.
Some of Asia’s biggest central banks are getting a painful refresher in economic theory.
A lack of affordability has hindered housing transactions the past two years, frustrating would-be buyers and, more recently, hammering the stocks of developers.
Last week's economic reports presented a narrative similar to what we’ve seen over the past few months: growth coupled with concerns.
The U.S. has poured more than $120 billion into Ukraine since its war with Russia began three years ago, but with a new administration in Washington, that support is grinding to a halt.
We highlight some underreported positive developments that could keep economic growth on track and support higher equity prices in the months ahead.
Cambria Investments CIO and founder Meb Faber explores David Swensen’s legendary investment strategy at Yale’s endowment, comparing its long-term performance to traditional portfolios and examining whether individual investors can replicate its success.
One month into President Donald Trump’s new term, financial markets are adjusting to a rapidly shifting economic and policy environment. Investors are watching closely as tariffs, interest rate expectations and regulatory changes take center stage.
In his testimony before the House Financial Services Committee February 12, Federal Reserve Chair Powell was questioned about why mortgage rates had not declined.
Ever since interest rates got up off the floor in 2022, there’s been increased interest in credit, and that’s why I’m devoting this memo to it. It’ll come a little closer than usual to “talking my book,” but I think the subject justifies that.
Euro-area bond yields inevitably leapt like a salmon as Germany unleashed a fiscal bazooka, but compared to previous fixed-income tantrums, it’s not the stuff of all-night summits.
Opportunities have increased significantly in frontier markets debt as more countries have made a conscious effort to open their capital markets to international investors and currencies have become more fairly valued.
Treasury yields have been falling for weeks. Yet inflation expectations remain high and recent growth data have been fairly strong—not a traditional backdrop for declining yields. What's happening?
As daily headlines drive volatility, the market has avoided overreacting thus far.
High fiscal deficits from tax cuts and tariffs raised concerns about inflation. However, markets have since shifted their focus.
The notion of a US recession seemed remote just a few months ago, a mere blip on the radar of economic possibilities. More recently, however, that picture has started to change.
Hiring at US companies slowed in February to the lowest pace since July, led by job cuts in the service sector and in regions of the US that were hit by severe weather.
Germany’s extraordinary spending plans are shaking up the region’s markets, powering European equities past US peers this year and reviving the euro from the brink of parity with the dollar.
According to Research Affiliates’ Asset Allocation Interactive (AAI) online capital market expectations tool, U.S. large-cap equities are expected to yield 3.4% annually over the next 10 years compared to 9.1% for EM equities and 7% for REITs. This left many webinar participants wondering, How does this extra return square with these assets having similar betas?
A holistic approach may help insurance investors navigate an expansive opportunity set.
February’s market turbulence saw investors pivot toward defensive strategies as policy uncertainty intensified, driving a broad market rotation from mega-cap tech stocks to bonds, gold, and international equities.
US Treasuries are now outperforming stocks since Donald Trump was elected President, and some strategists say there’s room for those gains to run.
Traders added to bets on interest-rate cuts from the Federal Reserve amid concern about the impact of US trade tariffs on global economic growth.
We wrote in last month's letter that the U.S. stock market had to meet lofty earnings expectations to maintain its strong performance relative to global benchmarks, while the latter had a lower bar because of considerably cheaper valuation multiples and higher dividend yields.
Russ Koesterich discusses the risk of higher interest rates and the potential impact (both positive and negative) such a move could have on markets.
Despite GDP figures indicating continued expansion, weakening consumer confidence and persistent inflation concerns speak to uncertainty.
With major US policy change unfolding, flexibility across and within asset classes will be critical.
Looming U.S. and global policy shifts may potentially rattle markets, but a tactical and flexible approach could help investors navigate risks and opportunities regardless of how events play out.
Trade war fears and disappointing data have sparked a flood of defensive buying activity in consumer staples, utilities, and healthcare stocks.
We delve into the unprecedented level of equity risk investors are taking, the record-high uncertainty measures facing further impacts from deglobalization, and the benefits of maintaining a diversified portfolio through it all.
Investors in US government bonds are wrapping up their biggest monthly gain since July as the Federal Reserve’s preferred gauge of underlying inflation rose at a tepid pace in January.
Should you avoid lower-rated, riskier investments like high-yield corporate bonds or bank loans? Not necessarily, but you should understand the risks.
Measuring the effectiveness of ESG-labeled bonds can be a challenge, particularly with “outcome bonds,” which have specific environmental or social goals but lack standardized assessment criteria.
In the report, John Kerschner, Head of US Securitized Products & Portfolio Manager, and John Lloyd, Lead for the Multi-Sector Credit Strategies & Portfolio Manager, review the best-performing U.S. fixed income sectors of 2024 – what worked, what didn’t, and what it means for investors going forward.
The economy can grow through policy changes.
