Insights

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Insights

Investing

June 2024 Market Commentary

Treasury yields fell during June, after encouraging inflation readings, but have risen over the quarter and for the year.

Corporate

Q3 2024 Corporate Bond Market Outlook

July 10, 2024 - Nicholas Elfner

Entering the third quarter, corporate event risk, geopolitical risk, and valuations warrant monitoring for potential impact on the corporate bond market outlook.

ESG

California’s FAIR Plan and Potential Implications for State and Local Municipal Bonds

July 1, 2024 - Ruth Ducret

The voluntary insurance market and state and local governments seek to adapt and increase resiliency in the face of a changing climate.

ESG

Sustainability Frameworks Shaping Breckinridge Credit Research Enhanced, Newly Launched

July 1, 2024 - Robert Azrin, Michael Bonanno, Matt Corn

Sustainability frameworks help to shape the work of Breckinridge security analysts as they assess the credit worthiness of corporate and municipal bonds.

Municipal

It May Be Time To Activate Your Muni Bond Portfolio

June 17, 2024 - Matthew Buscone

As economic conditions shift and monetary policies change, we are seeing more divergence amongst issuers and potential opportunities to add value through credit selection.

Investing

Changing Landscape in Bond Investing

November 27, 2023 - Ognjen Sosa

With the era of easy money fading in the rear view mirror and a Fed tightening cycle coming to an end, a favorable rate environment is improving investor sentiment towards fixed income.

ESG

Using Muni SMAs to Assist Climate-Vulnerable Communities

September 18, 2023 - Erika Smull

Breckinridge’s new Climate Vulnerability Customization allows investors to allocate capital to climate-vulnerable communities in a data driven manner.

ESG

There's Nothing Passive About Net Zero in Fixed Income

September 1, 2023 - Joshua Perez

Our analytical and actively managed approach to a net zero mandate, in our view, combines three key elements that are essential to reaching net zero goals.

Investing

Tax Loss Harvesting in Fixed Income Portfolios

July 7, 2023 - Eric Haase, Jeremy Jenkins

Separately managed accounts can offer the advantage of greater control of your tax liabilities through strategies such as tax-loss harvesting and tax-loss swapping.

Municipal

Taking the Measure of Bond Ladders

June 13, 2023

Breckinridge believes a less rigid approach can pursue objectives similar to ladder strategies while providing flexibility to opportunistically take advantage of changing market conditions.

Municipal

Considering the Municipal Bond Market Implications of ETF Asset Growth

May 10, 2023 - Jeremy Jenkins

As ETF assets grow, municipal bond investors may want to consider the implications for certain segments of the municipal market.

Investing

Why IG Bonds Now?

January 19, 2023 - Jeffrey Glenn, James Spidle

Fundamental strength, current high yields, underpin our cautiously optimistic outlook for corporate and securitized bond markets in 2023.

Municipal

How to Invest In-State vs Out-of-State in Municipal Bonds

January 13, 2023 - Jeremy Jenkins

An appropriate mix of in-state and out-of-state bonds in a municipal bond portfolio can be determined through careful consideration of tax rates and bond supply, among other factors.

Investing

May 2024 Market Commentary

June 11, 2024

Treasury yields moved lower during the second half of May. While government-related and corporate bonds gained, municipal bonds values declined.

Investing

April 2024 Market Commentary

May 8, 2024

Treasury yields moved higher on hotter inflation data and the prospect for fewer rate cuts this year, producing another month of negative total returns for fixed income.

Equities

High Quality Dividend Equity Strategy Targets Income and Growth Potential with Defensive Characteristics in Changing Markets

April 10, 2024 - Joshua Perez, Bryan Poston

We believe that the end of the era of easy money policies marked an inflection point and a recent policy reset may fuel a more favorable environment for dividend-paying equities in 2024 and beyond.

Investing

March 2024 Market Commentary

April 9, 2024

Treasury yields declined from one to 10 years, albeit very little, to minimally reduce the curve’s longstanding inversion.

Corporate

Q2 2024 Corporate Bond Market Outlook

April 5, 2024 - Nicholas Elfner

IG issuer credit fundamentals are still broadly stable, and margins are hovering near their highest levels in 10 years.

ESG

SEC Releases Financial Climate Disclosure Rule, Marking Progress Amid Opposition

April 1, 2024 - Robert Fernandez

After two years of development the Securities and Exchange Commission (SEC) released new disclosure requirements related to climate change.

ESG

Enhanced Breckinridge Water/Sewer Sustainability Framework Flows From Continuous Improvement Focus

April 1, 2024 - Michael Bonanno, Ruth Ducret, Erika Smull

Breckinridge enhanced and updated its municipal water/sewer sustainability framework, reflecting a commitment to continuous improvement in investment research.

Municipal

Market Technicals Affect Municipal Bond Prices (Looking Beyond M/T Ratios and Relative Value)

March 21, 2024 - Adam Stern, Jeremy Jenkins, Maggie Fitzpatrick

Prudent bond investors can employ investment and trading strategies to mitigate the impact of shifting market technicals.

Investing

February 2024 Market Commentary

March 8, 2024

Municipal bond yields changed little, outperforming Treasuries, supported by sustained demand and supply that trailed the five-year average.

Investing

January 2024 Market Commentary

February 8, 2024

Longer-term Treasury yields increased to start 2024, and the intermediate segment of the yield curve shifted to a more positive slope.

Investing

December 2023 Market Commentary

January 12, 2024

Treasury yields continued to fall in December as an “everything” rally spurred on by expectations for more rate cuts in 2024, drove markets into year-end.

Municipal

2024 Municipal Market Outlook

January 11, 2024 - Adam Stern

Stable credit, Supportive technicals, low ratios and spreads shape municipal market entering 2024, but risks should not be overlooked