The content on this website is intended for investment professionals and institutional asset owners. Individual retail investors should consult with their financial advisers before using any of the content contained on this website. Breckinridge uses cookies to improve user experience. By using our website, you consent to our cookies in accordance with our cookie policy. By clicking “I Agree” and accessing this website, you represent and warrant that you are agreeing to the above statements. In addition, you have read, understood and agree to the terms and conditions of this website. The content on this website is not intended for use or distribution outside of the U.S., unless permitted by applicable law.

Press Coverage

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.

Net-Zero Push is ‘Misunderstood,’ Breckinridge President Says

January 30, 2024 - In our view, the early push to divest completely from fossil fuels may have caused some to miss opportunities to ‘direct capital’ to the energy transition. Tune in to President Peter Coffin’s interview with Fund Fire at the Future of Asset Management Conference to learn more.

Munis Little Changed While Ratio Richness Lingers
The Bond Buyer, January 29, 2024

Adam Stern, Co-Head of Research, was featured in a recent Bond Buyer article sharing recent trends in the municipal bond market and what this could mean for 2024. (Subscription required).

Read article


US Corporate Bond Sales Hit $176 Billion in Busiest January Ever
Bloomberg, January 29, 2024

Nick Elfner is quoted in a recent Bloomberg article regarding the record in corporate bond sales for January, and how companies are looking to take advantage of drops in longer-term borrowing costs.

Read article 


Big US banks lean into opco funding
IFR, December 8, 2023

In this recent IFR article, Nick Elfner shares his thoughts on recent issuance from banks, opco funding and the parties participating in these deals. (Subscription required).

Read article


Companies Bet on Fed Rate Cuts With Short-Term Debt Sales
Bloomberg Law, December 7, 2023

Nick Elfner, co-head of research, is featured in a recent Bloomberg Law article discussing recent trends in the market due to possible Federal Reserve rate cutting in 2024. (Subscription required). 

Read article


GM raises $3 billion with bond deal as investment-grade spreads rally to tightest level of 2023
Market Watch, December 4, 2023

The U.S. bond market has rallied in recent weeks and a “flurry” of issuance is expected this week in the corporate bond market. Nick Elfner was quoted in a recent Market Watch article on his opinion that the recently positive tones in the market could keep IG corporate bonds in demand through year end. 

Read article


ESG Issuance Steadily Grows Despite Politicization, Labeling Concerns 
The Bond Buyer, November 3, 2023 

The Bond Buyer examines some reasons behind why ESG-labeled debt continues to see steady growth despite issuer hesitation to designate it as such. Senior Research Analyst, Ruth Ducret, comments on how different factors within the muni market, along with the political climate, could impact continued growth in labeled bonds. (Subscription required). 

Read article 


Why the Fed could be wrong — again — on its latest interest rate call
CNBC, October 30, 2023

Investors have a lot of factors to consider when evaluating the Fed’s messaging and forecasting. Along with others on Wall Street, Nick Elfner, co-head of research, shares his thoughts on what may lie ahead for the markets. (Subscription required). 

Read article


Highest Yields Since ‘09 Have Credit Investors Ignoring Losses
Bloomberg Law, October 24, 2023

U.S. high-grade corporate bond sales volume is down and far below banks’ expectations. Nick Elfner, however, thinks that this pain can present an opportunity for large institutional investors beginning the reallocation process. (Subscription required). 

Read article 


Earn 4.5% With No Taxes? How to Invest in Municipal Bonds
The Wall Street Journal, October 19, 2023

Senior Research Analyst, Ruth Ducret is quoted in a recent article in The Wall Street Journal discussing the tax advantages of muni bonds. She highlights our new investment customizations for municipal bond portfolios that serve investors who want to back issuers that serve communities with older infrastructure or lower-income residents, or issuers seeking to address heightened climate risks such as wildfires, floods or hurricanes. (Subscription required).

Read article 


Future of Asset Management North America Conference Panel
September 29, 2023 

Breckinridge President, Peter Coffin recently joined the fifth annual Future of Asset Management North America conference for a panel called “Does the industry has a fiduciary duty dilemma?” Ignites and FundFire have coverage of the debate in the below links. (Subscriptions required). 

Read Ignites article 

Read FundFire article


Managers See Spike in Demand for Sustainable Bond Strategies 
FundFire, September 29, 2023 

Chief Investment Officer, Oggie Sosa, is featured in a recent FundFire article discussing the launch of Breckinridge’s three new customizations for our corporate and municipal bond strategies. (Subscription required). 

Read article


New York City Is Underwater. There’s More Trouble in the Pipes. 
Mother Jones, September 29, 2023

Rainfall and floods are only expected to worsen due to climate change, and the city’s wastewater and drainage infrastructure isn’t equipped for the pressure. Breckinridge research analyst, Erika Smull, comments that those infrastructure problems are likely to worsen.

Read article


Why Municipal Bonds Might Not Be Protected From Climate Risk Forever
Barron's, September 24, 2023 

A recent Barron’s article quotes senior research analyst, Ruth Ducret, on the threats that climate risk issues pose for the municipal bond market. (Subscription required). 

Read article


The Value of Mentors, Transparency, and Diversity of Thought with Dominica Ribeiro, Chief Marketing and Distribution Officer
Beyond Barriers, September 20, 2023

Chief Marketing and Distribution Officer, Dominica Ribeiro, joins Beyond Barriers for an inspiring podcast covering many topics, including how her dual roles as an executive and a parent have taught her lessons about communication, negotiation, and strategy inside and outside of the workplace.

Listen


Mortgage Lenders Face Climate Risk. Why It Might Be Worse Than Insurers
Barron's, September 16, 2023

Senior Trader, John Bastoni is featured in a recent Barron’s article on the risks the U.S. housing market is facing from more frequent and damaging natural disasters. (Subscription required). 

Read article


MAUI FIRES ARE ANOTHER WARNING FOR ELECTRIC UTILITIES, ANALYSTS SAY
The Bond Buyer, September 7, 2023

Following the Maui fires, analysts acknowledge increased physical risks for electric utilities but not all think climate change will drive a wave of bankruptcies. Senior Research Analyst, Robert Azrin shares his thoughts on municipal utilities. (Subscription required).

Read article


Climate Woes Hang Heavy
The Bond Buyer, September 5, 2023

Ruth Ducret was featured in a recent The Bond Buyer podcast covering ESG and climate risk. 

Listen


Broadcom Secures $28.4 Billion Debt Financing for VMware Buy
Bloomberg, August 17, 2023

A recent Bloomberg article quotes Nick Elfner on debt financing approaches and bond market conditions. (Subscription required).

Read article


 Wells Fargo Reopens Perp Market
IFR, July 21, 2023

Nick Elfner, co-head of research, comments on the dislocations regional banks have been facing compared to global systemically important banks (G-SIBs).

Read article


Muni Investors With $250,000 to Spend Want Individual Attention
Bloomberg, July 17, 2023

Matt Buscone was recently quoted in a Bloomberg article discussing the increasing popularity of separately managed accounts due to a decrease in investment minimums by some companies. (Subscription required).

Read article


Companies Dash to the Bond Market After M&A Deals Are Agreed
Bloomberg, June 27, 2023

Nick Elfner spoke with Bloomberg about acquisition financing in the investment grade corporate bond market. (Subscription required).

Read article


Munis sit on sidelines, short govies rise following FOMC rate hike skip
The Bond Buyer, June 14, 2023 

Following the most recent Federal Open Market Committee meeting’s decision to hold rates, Matt Buscone, co-head of portfolio management, comments on how the Fed’s decision could impact munis. (Subscription required).

Read article


Credit Risk Gauge Widens as Fed Takes ‘Meeting by Meeting’ Stand
Bloomberg, June 14, 2023

Nick Elfner, co-head of research, is quoted in a Bloomberg article with market participant reactions to the Fed’s hawkish pause on interest rate hikes. (Subscription required).

Read article


Bank of America Leads Big Banks Back to the ESG Market
Bloomberg, June 14, 2023 

After a seven-month issuance drought, banks have returned to the green bond market. Nick Elfner, co-head of research comments on the impact of recent ESG scrutiny on these deals for issuers. (Subscription required) 

Read article


Local governments face challenge of rising water costs
The Bond Buyer, May 18, 2023 

The Bond Buyer reports on Erika Smull's panel discussion at the recent National Federation of Municipal Analysts' 2023 Annual Conference. She is quoted on the state of water utilities, local governments and the muni bond market. (Subscription required). 

Read article


Short-term munis sell off, yields rise along with USTs
The Bond Buyer, May 17, 2023

Matt Buscone is featured in a recent article from The Bond Buyer, giving an update and his perspective on the muni market and what investors can expect in the coming months. (Subscription required).

Read article


California panel releases green bond disclosure guidelines
The Bond Buyer, May 16, 2023

Ruth Ducret, senior analyst, is quoted in The Bond Buyer on the recently published green bond disclosure guidelines. As one of the authors, Ruth speaks about the goals of this effort in the article. (Subscription required).

 Read article


Pfizer Kicks Off Jumbo Bond Sale, Joining Ranks of Largest Ever
Bloomberg, May 16, 2023

Pfizer had a jumbo IG bond offering, one of the largest ever sold. Nick Elfner comments on what this means for the market and demand. (Subscription required)

Read article


 Return of Regional Bank Angst Batters Corporate Credit Markets
Bloomberg, May 4, 2023

Nick Elfner spoke with Bloomberg about the latest volatility among U.S. regional bank bonds. (Subscription required). 

Read article


Why the debt-ceiling showdown is a ‘Catch-22’ for markets
MarketWatch, April 26, 2023

Adam Stern, co-head of research, is featured in a MarketWatch article discussing when Congress will decide to raise the U.S. debt ceiling and what that means for the financial markets. He expects they will not negotiate until as close to the X-date as possible, or until the markets see more volatility.

Read article    Follow up article


‘No growth to a mild recession scenario for 2023,' Breckinridge CIO says
Pensions & Investments, April 17, 2023

In a Pensions & Investments feature, Oggie Sosa, CIO, reflects on market performance in 2022 and discusses the market outlook for 2023. He outlines changing trends in interest rates, bond yields, and investor priorities that could favor increased flows to investment grade fixed income.

Read article


$1 Billion Sale Marks First Major Bank’s AT1 Bond Offer Since Credit Suisse Wipeout
Bloomberg, April 19, 2023

Nick Elfner spoke with Bloomberg about the market for Additional Tier 1 bonds after the collapse of Credit Suisse Group. (Subscription required)

Read article


Regional US Banks to Weigh Costly Bond Sales as Depositors Exit
Bloomberg, April 14, 2023

With shrinking commercial bank deposits, regional U.S. banks are weighing the cost of bond sales and investors are weighing the risk. Nick Elfner, co-head of research, comments on the important decisions that banks, especially those of higher quality, face in issuing term debt. (Subscription required) 

Read article

$42B Fixed Income Shop Ventures into Equities with Dividend-Focused SMAs
FundFire, March 31, 2023

Research shows that credit quality is often an indicator of desirable dividend paying characteristics. FundFire covers the launch of our new dividend income strategies, High Quality Dividend and Sustainable High Quality Dividend. In the article we discuss the decision to venture into equity. (Subscription Required) 

Read article

Riskiest Bank Debt Is a Tough Sell After Credit Suisse Wipeout
Bloomberg, March 29, 2023

Nick Elfner, co-head of research, is quoted in a Bloomberg article that addresses current market perspectives on additional tier 1 debt in the wake of Credit Suisse’s losses. He comments on the market outlook and how banks and investors may need to adjust.

Read article

Bank woes erase ABS spread tightening
IFR, March 24, 2023

Matt Corn, trader, is quoted in a IFR article that discusses the shift in ABS spreads following the bank failures earlier this month. Matt notes the uncertainty from recent bank volatility and considers the state of the market as spreads widen. 

Read article

Credit Risk Gauge Rises as Powell Rules Out Rate Cut This Year
Bloomberg, March 22, 2023

As the Fed slows its interest rate hikes, perceived U.S. corporate credit risk also decreased. Nick Elfner, co-head of research, comments on the implications for IG credit and spreads, and the demand in the market while relatively high yields may continue to attract flows. (Subscription required)

Read article

High-Grade Borrowers Storm the Market Ahead of Fed Rate Decision
Bloomberg, March 21, 2023

After a wave of volatility in banking and the pause in investment-grade bond market issuance, borrowers are resuming activity. Nick Elfner, co-head of research, comments on the significance of the Fed’s decision for the market and what the future may hold. (Subscription required)

Read article

J&J Spinoff Kenvue Kicks Off Dollar Bond Sale to Fund Separation
Bloomberg, March 8, 2023

J&J spinoff company, Kenvue, tapped the investment grade market to finance its separation from Johnson & Johnson, selling $7.75b in bonds. Nick Elfner, co-head of research, comments on the potential implications for the consumer products industry and investors. (Subscription required)

Read article

Muni SMA Juggernaut Gives Their Take on How 2023 Shapes Up: Masters of the Muniverse
Bloomberg, February 15, 2023

Adam Stern, co-head of research, is featured on a Bloomberg Intelligence podcast episode that discusses the state of the muni market and ESG investing in 2023. He comments on the role of inflation, AI, SMAs, and more in the asset management space.

Listen to podcast

DeSantis spotlights issuers in escalation of red state anti-ESG movement
The Bond Buyer, February 16, 2023

Florida Gov. Ron Desantis’ recent announcement to ban issuers from considering ESG in municipal bonds is only the latest in a rising trend of the politicization of ESG investing. Adam Stern, co-head of research, comments on the potential implications of anti-ESG legislation on issuers and the importance of looking at risks that are material. (Subscription required)

Read article

Regional banks step up with bond offerings 
IFR, January 24, 2023

Nick Elfner spoke with IFR about recent bond issuance from regional banks and provides the investor perspective. (Subscription required). 

Read article

Organizational shift at Moody's brings ESG analysis to fore
The Bond Buyer, January 20, 2023

Rob Fernandez, Director of ESG Research, comments on the rise in tension and discussion around ESG and investing. He is quoted in The Bond Buyer on Breckinridge's emphasis on the credit implications of ESG factors, as well as our support of standardized climate disclosure. (Subscription required) 

Read article


New Jersey takes green turn with wind bond deal 
The Bond Buyer, January 17, 2023

Andrew Teras spoke with The Bond Buyer about a new bond being issued by the New Jersey Economic Development Authority, one of the largest wind energy bonds in United States municipal history. (Subscription Required) 

Read article

 

Previous Press Coverage

Read news articles from past years that feature Breckinridge perspectives and quotes from our experts.