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Below are recent news articles that feature Breckinridge perspectives and quotes from our experts.
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August 15, 2025 - A key measure of U.S. corporate-bond valuations surged to the highest level in nearly three decades as investors raced to lock in still-elevated yields amid speculation that the Federal Reserve will resume cutting interest rates next month. Nick Elfner, Co-Head of Research is quoted in a recent Bloomberg article. (Subscription required).
In this FundFire article, Adam Stern, Co-Head of Research, shares his perspective on the recent endowment tax hike and its potential implications for affected institutions. (Subscription required).
Co-Head of Research, Nick Elfner, comments on the added demand for investment grade corporate bonds as the market has seen investors start to de-risk their equity portfolios. Read more in Reuters.
Only three of the six largest U.S. banks have tapped the U.S. bond market after posting strong second-quarter results, slowing the borrowing spree earlier in the year ahead of the potential easing of bank capital regulations. Nick Elfner is quoted in a recent IFR article. (Subscription required).
The Treasury Department is weighing a change to Internal Revenue Service policies to allow the revocation of tax-exempt status for colleges that consider race in student admissions, scholarships and other areas. Adam Stern, Co-Head of Research, is quoted in a recent Bloomberg article. (Subscription required).
Harvard’s tax-exempt status may be taken away by the IRS. Adam Stern, Co-Head of Research, is quoted in The Bond Buyer on what the threat to Harvard’s 501(c)(3) status could mean for current bond holders. (Subscription required).
Harvard University's tax-exempt bonds have recently cheapened amid political tensions, prompting some investors to sell over concerns of headline risk while others view the situation as a buying opportunity given the university's strong credit fundamentals. Adam Stern, Co-Head of Research, is quoted in a recent article. (Subscription required).
Nick Elfner, Co-Head of Research, was recently quoted in an article discussing the impacts of the Trump administration’s tariffs on the corporate bond market and Q1 earnings. The article highlights how investors and companies are looking for more certainty with solid trade agreements.
IFR highlights major U.S. banks raising $16.5 billion from the high-grade bond market amid uncertainty tied to the Trump administration’s shifting tariff policies. Nick Elfner, Co-Head of Research, is quoted highlighting the strong market confidence reflected in the banks’ ability to bring substantial deals to market in a single day.
In a recent Reuters article, Nick Elfner, Co-Head of Research, is quoted predicting that as the effects of President Trump's economic and fiscal policies become clearer, U.S. corporate bond spreads are expected to widen further, increasing the appeal of corporate debt for investors, including foreign buyers. (Subscription required).
Nick Elfner, Co-Head of Research is quoted in a recent Bloomberg article that reviews how surging yields are spurring at least a few blue-chip companies to delay U.S. bond sales, a sign of how falling Treasury prices are rippling into other markets. (Subscription required).
A handful of companies have held back on selling high-grade corporate bonds in the U.S. after yields have climbed in the last week close to their highest levels since the middle of last year, boosting potential borrowing costs. Nick Elfner is quoted on his thoughts on rate volatility. (Subscription required).
Nearly two dozen companies flocked to the U.S. high-grade bond market in a single day, making it the biggest day for issuance since early September as risk premiums stay persistently tight. Nick Elfner comments on the market in this recent Bloomberg article. (Subscription required).
Pension & Investments explores how money managers remain generally optimistic about prospects for the industry, but concerned about global geopolitical issues and the ramifications of the next presidential administration in the U.S. CEO, Oggie Sosa, is quoted on where Breckinridge is focused given the potential implications of the shift in the balance of power in Washington. (subscription required).
Co-Head of Research, Nick Elfner, is quoted in this Bloomberg article that discusses what could be one of the busiest January’s for bond sales. (Subscription required).
