Collaboration & Thought Leadership

External Initiatives and Membership Associations

Enduring truths: Advancing and advocating for positive
change

In addition to focusing on our own corporate social responsibility with the goal of moving the needle on ESG investing, we seek to advocate for system-level change. We support organizations that are using their expertise to lead the way for progress in areas like climate change, diversity and improved sustainability reporting. Our intention in these efforts is to advance ESG research and related efforts. These efforts also embed sustainability into our corporate culture. By supporting and partnering with these organizations, we aim to create long-term value for our clients and the broader investor community.

Thought Leadership

Enduring truths: Sharing our intellectual capital with stakeholders

Reliable information, helpful insights and measured perspectives proved important to our stakeholders throughout 2020. Uncertainty increased with spread of the pandemic, the arrival of fiscal and monetary policy relief, and surging market volatility. In response Breckinridge initiated new communications efforts to complement its ongoing monthly and quarterly programs, sharing its thought leadership in an effort to help clients as they navigated market turmoil.

At the height of the market volatility in March, the Investment Committee initiated a series of weekend meetings. Their deliberations were published on our website each Monday and pushed to clients who chose to subscribe to our commentaries and perspectives. In addition, members of our investment teams published timely research. As pandemic-related business shutdowns caused concerns about revenues for corporate and municipal bond issuers, our Co-Heads, Research, explored bankruptcies and bond defaults in prior economic downturns.

Regarding State Bankruptcy

COVID-19 and Corporate Default Rates in Recessions and Depressions Past

As the government delivered and executed fiscal and monetary policies intended to moderate the worst economic effects of the pandemic, our team published examinations of the details of the plans and the potential effects they could have on investors.

The Fed’s New Municipal Liquidity Facility: Modest Help or Market Game-Changer?

Summary: Fiscal Stimulus and Monetary Policy Responses to COVID-19

In addition to publishing research about issues associated with the bond markets and the pandemic, we added video discussions of the markets and a webinar. We carried on the quarterly webinar series throughout the year.

Forbearance Means New Factors for Today’s MBS Market

Comparing 2020 COVID-19 Market Turmoil to 2008

From Peter Coffin: Navigating the Bond Market

Webinar: Muni Credit Resiliency

During the summer, our communications efforts extended to important social issues. We also continued to advance the development of sustainable investing through research and commentary and, reviewed the 2020 elections.

Media reached out to Breckinridge for perspectives and insights on the bond markets and ESG topics, often as shaped by considerations of investing during the pandemic. Many of our employees were mentioned and quoted in various investment and ESG-related articles in major publications such as Barron’s, Bloomberg, International Financing Review, MarketWatch, Reuters, The Financial Times, The Bond Buyer, The New York Times, and The Wall Street Journal, for example.

Prejudice in America and Improving Ourselves

Choosing to ‘B’ a Force for Good

Expanded Engagement Initiatives Add Value in Tumultuous 2020

ERISA and ESG: ESG, Sustainability Are Integral to Research

Fossil-Fuel-Free Investing: Process and Perspective

Quick Takes: Breckinridge Assesses the 2020 Election

Events and Speaking Engagements

Our employees also offered their time to lead conversations at industry conferences during a year when conferences were severely limited by travel and meeting restrictions due to COVID-19.

  • During Climate Week, Breckinridge hosted or participated in a series of web-based events:
  • Pricing the Impact of Climate Change on Urban Property Values
  • Flying Blind: What Do the Markets Know about Climate Change Risks?
  • Climate risk data for the muni universe is no longer lacking. Fixed income leaders are responding accordingly.
  • Cities, Investors and Infrastructure: Climate Aware Funding Strategies
  • State of the Coast: Future Climate-Driven Risks and their solutions on MA North Shore

Other events included:

  • Confluence Annual Gathering
  • Climate Leadership Conference
  • The Responsible Business Summit New York 2020
  • New England Sustainable Investing Networking Event