Insights

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.

Treasury yields increased in July on favorable economic data and the Federal Reserve’s decision to hold rates steady.

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

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.

We see the Energy Supply Financing Ratio as an emerging and potentially important signal of how financial institutions are navigating the low-carbon transition.

U.S. Treasury Curve: Treasury yields fell in June and steepened for the quarter, with yields falling in the 1- to 10-year range and increasing beyond 10 years.