Insights

Economic growth remained robust in the fourth quarter, fueled by strong spending from high-income households and productivity gains linked to artificial intelligence-related investments.

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.

In October 2025, the Federal Open Market Committee cut interest rates by 25bps to a range of 3.75 to 4.00 percent and announced an end to quantitative tightening in December.

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.