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Below are recent news articles that feature Breckinridge perspectives and quotes from our experts.
For media inquiries, please contact our PR partners at pro-breckinridge@prosek.com.
August 1, 2022 - Breckinridge’s director of ESG research, Rob Fernandez, is quoted in a FundFire article highlighting the asset manager perspective on ESG in fixed income. Rob comments on the interest from investors in seeing municipalities provide more standardized disclosure on climate risk and other ESG risks. (Subscription required)
Nick Elfner, co-head of research, is quoted in a Yahoo News article about the decline in bond sales due to the recent rate increase by the Fed. Nick comments that we expect spread volatility will continue with a widening bias in investment-grade as the risk or probability of a recession increases.
Breckinridge’s co-head of research, Adam Stern, is quoted in the Wall Street Journal on how climate risk is affecting the municipal bond market. Adam comments on the growing subset investors who are less willing to have high climate risk exposure in their portfolios. (Subscription required)
A recent article in Bloomberg Law discusses the effect of inflation on the bond market. Breckinridge’s co-head of research, Nick Elfner, is quoted on how spreads may cause corporate debt investors to be cautious when buying bonds. (Subscription required)
A recent Bond Buyer article discusses how climate change increases the risk of hurricanes and their financial impact on municipal governments and communities. Andrew Teras comments that less federal support is likely to be available to help communities recover from natural disasters and hurricanes in the future. He states that in coming years hurricanes will have the greatest impact on municipalities and public issuers that are already in financial distress. (Subscription required)
New article from The Bond Buyer features commentary from Andrew Teras, Director, Municipal Research, about our views of ESG in the muni market.
A recent MarketWatch article discusses the falling prices of U.S. investment grade corporate bonds in the index, amid one of the worst stretches in history for total returns. Nick Elfner comments that much of the drop in prices was rates-driven, and emphasizes that the sharp jump in interest rates can be a double-edged sword for bond investors. (Subscription required).
Director of ESG Research, Rob Fernandez, and senior research analyst, Josh Perez, are featured in an Environmental Finance interview on Breckinridge's recent decision to sign the Net Zero Asset Managers initiative. In their interview, Rob and Josh both comment on the significant amount of research it took before signing the NZAMi commitment and the importance to approach the 30-year pledge in an authentic way that reflects Breckinridge's views on risk as an increasing material ESG consideration. (Subscription required).
Matt Corn is quoted in a recent IFR article on the widening of sub-prime auto ABS spreads during the last month stemming from the potential for a slowing economy, inflation and higher rates to negatively impact low-income borrowers. (Subscription required).
A recent Bloomberg article discusses New York Power Authority’s planned sale of $600 million of tax-exempt green bonds to support two projects that will aid in rebuilding the transmission grid and move renewable power more cheaply. Breckinridge's head of municipal trading, Ben Pease, comments on the new bonds’ potential attractiveness to investors who are looking to diversify a New York based bond portfolio. (Subscription required).
Ben Pease, head of municipal trading, is quoted in Bloomberg about the decline of municipal bond prices ahead of the expected Fed rate hike this month. Despite the cheaper levels… Ben comments that Municipal/Treasury ratios still look good compared to a year ago. (Subscription required).
A MarketWatch article this week discusses the negative financial effects that the attack on Ukraine has imposed on borrowers in the credit market. Nick Elfner emphasizes that with 10-year Treasury yields falling, corporate borrowers remain at a low cost of debt capital. Elfner states that if we start to see sharp spread widenings, it would likely capture the Fed's attention.
Breckinridge's co-head of research, Nick Elfner, is quoted in a recent Bloomberg article on bond sales being postponed after Russia invaded Ukraine. Nick comments on long-term buying opportunities that can arise when financial markets show short-term signs of weakness and volatility. (Subscription required).
Matt Corn is quoted in a recent IFR article on the widening of ABS spreads due to broader market volatility stemming from tensions over Ukraine. (Subscription required).
A recent article in Institutional Investor discusses the transition from divestment and asset allocation as a way to manage climate change risk, to active ownership and engagement. Breckinridge President Peter Coffin is quoted on the importance of the market recognizing and pricing in climate risk.
A recent article in Bloomberg discusses the effects of the Fed's monetary policy tightening on the IG bond markets. Breckinridge's co-head of research, Nick Elfner, is quoted on how the corporate bond market may handle the impacts of the Fed’s tighter policy on the economy.
Director of ESG Research, Rob Fernandez, is featured in a new report from All Street that brought together 30 ESG professionals to discuss key topics related to sustainability and climate change. In his interview Rob discusses the influence of investors, the efforts of corporations to address ESG risks, potential solutions for climate risk and more.
This week in the Wall Street Journal, Adam Stern is quoted on the state of municipal credit at the start of the new year.
Nick Elfner comments on the IG corporate bond market as new deals came to market this week and the Fed's position on interest rates is predicted to shift.
