Insights

Treasury yields moved higher at the front end in June, reflecting expectations that the Federal Reserve may hike rates in 2H2026.

After widening in the first quarter on heightened geopolitical risk and an oil shock, corporate bond spreads staged a comeback on a ceasefire in Iran, solid U.S. economic data, and a strong first-quarter earnings cycle.

Liquidity events are creating new portfolio challenges, making tax-aware reinvestment and thoughtful portfolio construction more important than ever.

Entering the second half of 2026, municipal market credit is stable with some signs of sector weakness.

Treasury yields ended May modestly higher on expectations for a higher-for-longer rate environment.

Treasury yields moved modestly higher in April, as markets responded to resilient economic data, elevated inflation readings, and higher energy prices.

California’s proposed wealth tax faces significant political, legal, and administrative obstacles and is unlikely to be enacted.

The investment grade Technology sector is in transition, moving from a net cash position to potentially the largest borrower in the IG corporate bond market.