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Insights

Perspectives

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.

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Corporate

Perspective by Nicholas Elfner

Risks and Opportunities in Today’s Corporate Bond Market

Securitized

Perspective by John Bastoni

A Key Metrics Rundown for Securitized Product Investors

Municipal

Perspective by Adam Stern

Asset Monetization in the Muni Market: It’s More Likely Than You Think

Municipal

Perspective by Adam Stern

What Happens in Puerto Rico No Longer Stays in Puerto Rico

Municipal

Perspective by Adam Stern

2018 Municipal Bond Credit Outlook

Municipal

Perspective by Adam Stern

Not Yet in Lockstep: E-Commerce, Sales Tax and Muni Credit

Municipal

Perspective by Peter Coffin

Managing Shifts in Municipal Relative Value

Municipal

Perspective by Adam Stern

A Credit View of Illinois’ Past and Future

Corporate

Risks and Opportunities in Today’s Corporate Bond Market

By Nicholas Elfner

With corporate debt ruling the headlines, Nick Elfner gives his thoughts on corporate leverage, ratings downgrades, and risks and opportunities in the investment grade corporate space.

Securitized

A Key Metrics Rundown for Securitized Product Investors

By John Bastoni

New perspective piece from our securitized trader discusses the major building blocks in securitized pricing, and explains how they interact to affect MBS and ABS.

Municipal

Asset Monetization in the Muni Market: It’s More Likely Than You Think

By Adam Stern

In our latest perspective, Head of Muni Research Adam Stern dives into asset monetization, why it’s happening and what it means for muni credit.

Municipal

What Happens in Puerto Rico No Longer Stays in Puerto Rico

By Adam Stern

In this piece, we summarize the recent court decision arising from a bond default by the Puerto Rico Highways and Transportation Authority (PRHTA).

Municipal

2018 Municipal Bond Credit Outlook

By Adam Stern

As the municipal market advances into the second month of 2018, investment grade credit fundamentals are stable and there are few obvious catalysts to spur near-term deterioration.

Municipal

Not Yet in Lockstep: E-Commerce, Sales Tax and Muni Credit

By Adam Stern

In this white paper, we explore the changing retail sales landscape in the U.S., and focus, in particular, on the rise of e-commerce.

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

A Credit View of Illinois’ Past and Future

By Adam Stern

The prospect of a junk-rated state is a concerning development for the municipal market.

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