| Insights

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Insights

Investing

May 2021 Market Commentary

In May, counterbalancing issues left investors uncertain, seemingly leaving markets in a wait-and-see mode.

ESG

Giving and Investing Trends Converge for More Powerful Philanthropy

April 28, 2021 - Ariana Polk

Donor-advised funds (DAFs) and environmental, social and governance (ESG) investment strategies are converging for greater philanthropic impact.

ESG

Sustainable Bond Innovations Spark Issuance, Boost Transparency

April 20, 2021 - Nicholas Elfner, Robert Fernandez, Will Queen

The sustainable bond market is benefiting from innovation that is expanding the availability and enhancing the transparency of debt issued to finance ESG progress.

ESG

Breckinridge Marks a Decade of ESG Integration in 2021

April 20, 2021 - Peter Coffin

As our experience and insights related to ESG investing have advanced, so to has the industry’s. Peter Coffin reflects on the past decade of ESG integration at Breckinridge.

ESG

Changed Power Structure in DC May Support Environmental Initiatives

April 1, 2021 - Robert Fernandez, Andrew Teras, Cara Early, Alriona Costigan, Christopher Woodward, Joshua Stein

The arrival of new leadership in the White House and Senate in Washington DC increases the likely elevation of the debate—and perhaps legislation and regulation—related to key environmental interests.

Municipal

Still Work To Do for Many Municipal Issuers after Credit-Positive American Rescue Plan

March 11, 2021 - Adam Stern

While the $1.9 trillion American Rescue Plan is a credit positive for municipal bonds, many issuers have work to do to strengthen their finances.

Municipal

2021 Muni Market Outlook: To Immunity and Beyond!

January 4, 2021 - Adam Stern

Municipal credit will begin to heal in 2021 as the COVID-19 pandemic abates and the economy recovers. Adam Stern reviews the outlook for municipal bonds in 2021 and beyond in his annual analysis.

Investing

Reflecting on the Importance of Our Independence

September 1, 2020 - Peter Coffin

Independence is a key part of the fabric of Breckinridge.

Investing

April 2021 Market Commentary

May 5, 2021

In April, Treasury and municipal yields moved lower even as market trends and economic data were positive.

Corporate

Q2 2021 Corporate Bond Market Outlook

April 9, 2021 - Nicholas Elfner

Corporate bond investors saw a net corporate leverage stabilize in the first quarter and gross leverage could improve with rising cash flows.

Investing

March 2021 Market Commentary

April 7, 2021

March was characterized by investors looking ahead and looking past risk, in many cases.

ESG

Engaging with the Tech Sector RE: Diversity, Equity, and Inclusion

March 8, 2021 - Abigail Ingalls, Robert Fernandez

Abi Ingalls and Rob Fernandez discusses key takeaways from their engagement calls with technology companies.

ESG

Podcast: Closing the Gender Gap

March 8, 2021 - Ruth Ducret, Abigail Ingalls, Dominica Ribeiro

Two senior research analysts and our former GWI intern have a conversation about women in the investment management industry.

ESG

The Future Benefit of Gender Lens Investing

March 8, 2021 - Abigail Ingalls, Dominica Ribeiro

Abi Ingalls, senior research analyst, spoke with CMO Dominica Ribeiro, about the state of gender lens investing (GLI).

Investing

February 2021 Market Commentary

March 4, 2021

Bond investors welcomed higher yields and a steepening yield curve during February.

Investing

January 2021 Market Commentary

February 3, 2021

In January, strong demand and limited supply dominated the bond markets. Read our monthly market summary for details.

Investing

December 2020 Market Commentary

January 14, 2021

With most investors focused on 2021, with hopes for less stressful markets, December closed out a tumultuous 2020.

Corporate

Q1 2021 Corporate Bond Market Outlook

January 8, 2021 - Nicholas Elfner

“Déjà vu all over again.” Corporate bond investors might be feeling that way after 2020. Learn why in Nick Elfner’s review.

Municipal

Georgia Runoff Elections Shift 2021 Outlook

January 7, 2021 - Adam Stern

2021 Outlook Follow-up Blog (Jan. 6, 2020): Democrats’ apparent Senate wins in Georgia are a credit-positive for the municipal bond market and may result in material changes to tax and infrastructure policy.

ESG

Blackouts Illuminate Pursuit of Renewables, Reliability Among California’s Municipal Utilities

January 5, 2021 - Christopher Woodward

High temperatures, scorching winds, wildfires and rolling power blackouts in 2020 showed that California publicly own electric utilities face a dual challenge: providing reliable power to customers while pursuing state mandates for renewable, carbon-free electricity generation.

ESG

Breckinridge Sharpens ESG Focus on Affordable Housing Bonds

January 5, 2021 - David Stenhouse

A dedicated housing framework developed in 2020 strengthened Breckinridge’s environmental, social and governance (ESG) evaluation of bonds targeting affordable housing in the U.S.

ESG

Expanded Engagement Initiatives Add Value in Tumultuous 2020

January 5, 2021 - Robert Fernandez, Andrew Teras

The information discovered during more than 100 meetings with bond issuers, as well as subject matter experts, explored best practices in sustainability as corporations and municipalities are increasingly integrating ESG considerations into their operations.

Investing

November 2020 Market Commentary

December 9, 2020

In November, financial markets appeared to be in a tug-of-war between rising COVID-19 cases and positive vaccine news.

Investing

Quick Takes: Breckinridge Assesses the 2020 Election

November 10, 2020 - Matthew Buscone, Jeffrey Glenn, Nicholas Elfner, Adam Stern

The 2020 elections clarify some important issues for investors and leave others unsettled for now. Our investment team is tracking the implications closely and offers insights and expectations in our comprehensive roundtable discussion.

Investing

October 2020 Market Commentary

November 9, 2020

A risk-off tone characterized markets in October with municipal, corporate and securitized bonds faring relatively well.