Insights

Above-average yields, solid investor demand, and stable credit fundamentals are counterbalanced by tight spreads, rising event risk, and a slowing labor market driving a modest overweight to the corporate sector, with a defensive posture.

For investors seeking higher long-term income and capital appreciation, a company’s dividend growth rate can be a more important consideration than its dividend yield.

Private credit allocations have progressed from niche to mainstream, presenting investors with two critical considerations.

In August 2025, the financial markets were marked by a mix of economic resilience and shifting policy expectations.

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.

Investment managers confronting challenges of a more complex and competitive municipal bond trading environment must develop, deploy and continually refine new tools and technologies.

Influences spanning government, regulatory and trade policy, market technicals and sector fundamentals shaped the municipal bond market through June 2025.

Municipal bond investors would be remiss to ignore the impact of state and local taxes on an appropriate mix of in- and out-of-state bonds in their portfolios.