Insights

The municipal market enters 2026 with strong but fading credit quality.

As we enter 2026, we are of the view that the next 12 months may be more about total return and less excess return.

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.

California’s fiscal picture remains strong, but its heavy reliance on income taxes tied to capital markets means the state could face unique risks if the AI boom reverses.

Today’s investors have access to a wide variety of investment vehicles, often utilizing multiple structures within the same portfolio.

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

As increasingly severe natural disasters threaten more regions of the U.S., Breckinridge is enhancing hurricane, flood, and wildfire risk monitoring to better inform municipal bond investors.

In our view, a credit rating is a measure of financial robustness and a proxy for quality, reflecting a firm’s proven results and history of prudent capital deployment.