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Insights

Investing

July 2019 Market Commentary

Fixed income benefited from the late-month volatility as the Treasury curve flattened.

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Investing

Podcast recorded by Sara Chanda, Eric Haase, John Bastoni, Khurram Gillani

From the Desk - July Recap 2019

Corporate

Commentary by Nicholas Elfner

Corporate Bond Market Outlook Q2 2019

ESG

ESG Newsletter by Robert Fernandez

Beyond the Business Case: Recognizing Investor Interest in Sustainability

ESG

ESG Newsletter by Robert Azrin

Bond Rating Agencies Upgrade Their Municipal ESG Capabilities

ESG

ESG Newsletter by Michael Bonanno

New Framework Puts Community Colleges to the Test

Corporate

Perspective by Brian Garcia

Tech Spends Big on Stock Buybacks, but What Gives for Bondholders?

Securitized

Perspective by John Bastoni

What to Expect from the Launch of UMBS

Municipal

Perspective by Alriona Costigan, Jesse Starks

Why Muni Investors Should Care about Cybersecurity

ESG

Perspective by Christopher Woodward

Why Electric Bills Are Becoming Just as Complicated for the Utilities Themselves

ESG

Perspective by Robert Azrin, Ruth Ducret, Robert Fernandez, Andrew Teras

Municipal Engagement Yields Additional Insights

Securitized

Perspective by John Bastoni

The Case for Agency MBS in a Diversified Portfolio

Municipal

Perspective by Matthew Buscone

Taking Stock of the Recent Rise in Municipal Demand

Investing

Perspective by Peter Coffin

Why Bonds Matter: Lessons from Behavioral Finance

Municipal

Perspective by Adam Stern

2019 Municipal Bond Credit Outlook

Municipal

Perspective by Christina Lynch

Types of Muni Bonds 101

Investing

Perspective by Jeremy Jenkins

Duration 101

Municipal

Perspective by Peter Coffin

Managing Shifts in Municipal Relative Value

Municipal

Perspective by Peter Coffin

Proactive vs. Reactive: A Case Against Passive Ladders

Investing

Perspective by Peter Coffin

A Closer Examination of Passive Fixed Income Indexing

Investing

Perspective by Jeremy Jenkins

Master Class: Bond Yields

Investing

Commentary

June 2019 Market Commentary

Corporate

Podcast recorded by Laura Lake, Nicholas Elfner

Q2 2019 Corporate Bond Market Outlook

Municipal

Podcast recorded by Matthew Buscone, Sara Chanda

From the Desk - June Recap 2019

ESG

ESG Newsletter

Q3 2019 ESG Newsletter

Investing

From the Desk - July Recap 2019

Podcast recorded August 13, 2019

This month our team discusses some extremes that they've been seeing in the muni market, the increased issuance of forward delivery bonds, the strong performance in the IG markets and more.

Corporate

Corporate Bond Market Outlook Q2 2019

By Nicholas Elfner

Corporate spreads narrowed and quality spreads compressed on a dovish Fed and strong equity markets.

ESG

Beyond the Business Case: Recognizing Investor Interest in Sustainability

By Robert Fernandez

Despite some shortfalls in acknowledging the intensifying appeal of ESG investing, companies are making progress in two important ways

ESG

Bond Rating Agencies Upgrade Their Municipal ESG Capabilities

By Robert Azrin

ESG risk factors are increasingly integrated into credit ratings but we believe rating agencies still have room for improvement.

ESG

New Framework Puts Community Colleges to the Test

By Michael Bonanno

With our updated framework we aim to identify community colleges who are best aligned with the needs of their respective communities.

Corporate

Tech Spends Big on Stock Buybacks, but What Gives for Bondholders?

By Brian Garcia

Hear from corporate analyst, Brian Garcia, on what declining debt issuance and stock buybacks in the Tech sector may mean for bond holders.

Securitized

What to Expect from the Launch of UMBS

By John Bastoni

Next month marks the launch of UMBS. Our securitized trader explains what this means and potential implications for the agency debt market.

Municipal

Why Muni Investors Should Care about Cybersecurity

By Alriona Costigan , Jesse Starks

On the heels of Baltimore’s recent cyberattack, Experts from our research and IT teams collaborate on a piece discussing cybersecurity for municipalities.

ESG

Why Electric Bills Are Becoming Just as Complicated for the Utilities Themselves

By Christopher Woodward

While clean energy is a growing priority for many states, some electric utility customers may not be willing to pay higher bills.

ESG

Municipal Engagement Yields Additional Insights

By Robert Azrin , Ruth Ducret , Robert Fernandez , Andrew Teras

In our latest perspective, we highlight various city sustainability initiatives and other key ESG themes from our 2018 engagement calls.

Securitized

The Case for Agency MBS in a Diversified Portfolio

By John Bastoni

We think some securitized products, such as agency MBS, are can help diversify portfolios and worth considering.

Municipal

Taking Stock of the Recent Rise in Municipal Demand

By Matthew Buscone

Co-Head of Portfolio Management Matt Buscone lays out the reasons municipal demand has soared and the recent impacts to muni valuation.

Investing

Why Bonds Matter: Lessons from Behavioral Finance

By Peter Coffin

Breckinridge President Peter Coffin shares his views on bonds in this new era of volatility.

Municipal

2019 Municipal Bond Credit Outlook

By Adam Stern

The muni market enters 2019 on stable credit footing, but looming challenges reiterate the importance of careful credit selection.

Municipal

Types of Muni Bonds 101

By Christina Lynch

In this piece, we provide a "101" on the types of municipal bonds and give a credit perspective on the various parts of the market.

Investing

Duration 101

By Jeremy Jenkins

Duration is one of the most important concepts for bondholders to understand as they review the performance of their fixed income investments.

Municipal

Managing Shifts in Municipal Relative Value

By Peter Coffin

Over the past year in particular, there have been some significant changes in the relative yields of tax-exempt municipal bonds (“tax-exempts”) versus the yields of Treasuries and other taxable bonds.

Municipal

Proactive vs. Reactive: A Case Against Passive Ladders

By Peter Coffin

Some active municipal bond managers will often make big, speculative bets with credit quality, duration or interest rate risk, prompting increased transaction costs and tax inefficiencies.

Investing

A Closer Examination of Passive Fixed Income Indexing

By Peter Coffin

In this landscape for fixed income markets, risk avoidance reigns supreme.

Investing

Master Class: Bond Yields

By Jeremy Jenkins

Fixed-income market participants often quote the term “yield,” but the word’s context could be misunderstood because various types of yield exist and each is calculated differently.

Investing

June 2019 Market Commentary

In June, there was a more cautious tone seen in U.S. monetary policy.

Corporate

Q2 2019 Corporate Bond Market Outlook

Podcast recorded July 12, 2019

Key themes in the corporate market for Q2 include volatility for IG corporate bonds, earnings and higher demand.

Municipal

From the Desk - June Recap 2019

Podcast recorded July 12, 2019

Our June recap provides an update on the size of the muni market, discusses recent legal challenges to GO debt in Puerto Rico and IL, and a recap of muni returns.

ESG

Q3 2019 ESG Newsletter

This quarter, our newsletter highlights updates to our community college framework, rating agencies and ESG risk factors and increasing investor interest in sustainability.