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Our experienced investment professionals have managed fixed income portfolios for more than 40 years. Choose an article to read our views on the economy and today’s bond markets.
| In Short: The Brexit effect on EM bonds |
Jun. 29, 2016 ::
Global growth may slow, hindering emerging economies' growth, but higher relative EM yields are still attractive vs. their developed counterparts.
| Fed leaves rates unchanged—signals more gradual hikes |
Jun. 15, 2016 ::
Fed stands pat on rates and keeps options open for the rest of 2016.
| FedWatch: Higher bar for raising rates |
Jun. 8, 2016 ::
Poor jobs report will likely keep rates unchanged at upcoming FOMC meeting.
| In Short: Global developed bonds in wait-and-see mode |
Jun. 6, 2016 ::
Don't expect much change until after the upcoming Brexit vote and the FOMC meeting.
| In Short: Muni bonds in a sweet spot |
May 19, 2016 ::
In a time of elevated volatility in other markets, municipal bonds are relatively well situated.
| Q&A: Few positive results so far with negative rates |
May 4, 2016 ::
The jury is still out on whether negative interest rates actually help economies.
| FedWatch: No hike—and no signal for one, either |
Apr. 27, 2016 ::
Yellen steers the policy statement in between the differing positions of the members.
| FedWatch: Don't even think about it |
Apr. 21, 2016 ::
A rate hike at the upcoming FOMC meeting would be a shock.
| Market Memo: Why spreads matter |
Apr. 19, 2016 ::
The financial world has plenty of jargon, but 'spreads' are a concept investors should be comfortable with to understand high-yield bonds.
| Fixed Income Outlook: The math—and the economy—favor credit |
Apr. 13, 2016 ::
The rate and economic environment are still constructive for spread products, but not so much for Treasuries.
| FedWatch: And then there were two |
Mar. 16, 2016 ::
The FOMC didn't hike rates but did cut the number of expected hikes in 2016 from four to two.
| FedWatch: March meeting could set the stage for future hikes |
Mar. 10, 2016 ::
A rate hike is very unlikely, but will the Fed hint one is just around the corner?
| Market Memo: Default rates in energy don't spell doom |
Feb. 24, 2016 ::
Investors already have paid a price for the likely coming wave of defaults in energy.
| Market Memo: Room for optimism in emerging-market bonds |
Feb. 17, 2016 ::
Three headwinds—slower global growth, a risk-asset sell-off and lower oil prices—may be on the verge of becoming tailwinds for EM debt.
| In Short: Oil's spill starting to sink credit ratings |
Feb. 11, 2016 ::
Even the largest energy companies are seeing credit-rating downgrades unthinkable only a few years ago.
| Q&A: Conundrums abound for Fed |
Jan. 28, 2016 ::
Why 10-year Treasury yields haven't plunged and other macro topics.
| FedWatch: Fed has eyes on global markets, slowing U.S. growth |
Jan. 27, 2016 ::
The FOMC stays pat with rates, and won't let "financial and international developments" or recent softness in U.S. economy keep it from normalization.
| FedWatch: Fed likely to address market volatility but not act |
Jan. 22, 2016 ::
The Fed is not ready to abandon normalization merely due to a difficult start to the year in equities and oil.
| Fixed Income Outlook: Giving credit its due |
Jan. 13, 2016 ::
Despite 2015's challenges, the credit side of the fixed-income world is still our favorite, led by high yield. We also are positioning for modestly rising rates and a yield-curve flattener, with short rates rising faster than long rates.
| FedWatch: A dovish hike |
Dec. 16, 2015 ::
Yellen was able to please hawks with a hike, and doves with plenty of qualifiers.
| Q&A: What's going on in the high-yield market |
Dec. 14, 2015 ::
Struggles at a fund that specializes in very distressed companies rattle the market, but the fundamentals don't merit the broad-based scare.
| FedWatch: Time is nigh for a hike |
Dec. 11, 2015 ::
But the FOMC statement is expected to sing its familiar chorus that future hikes will be cautious and gradual.
| In Short: What's ahead for high yield? |
Dec. 2, 2015 ::
Outside of energy and metals, the high-yield market should see performance improve in coming months as the economy continues to grow.
| FedWatch: The Fed is aware of the clock |
Oct. 28, 2015 ::
Policymakers signal that a December rate hike remains in play.
| Fixed Income Liquidity: The new SEC proposals and Federated |
Oct. 27, 2015 ::
The subject of bond market liquidity continues to get a lot of attention through press articles and proposed Securities and Exchange Commission (SEC) reforms.
| FedWatch: Time isn't on the Fed's side |
Oct. 23, 2015 ::
An October surprise, i.e., rate hike, is unlikely but if policymakers want to initiate tightening before year-end, only one meeting's left after this one
| Fixed Income Outlook: For now, forget about the Fed |
Oct. 9, 2015 ::
With rates staying low, the action in the fixed-income arena remains focused on credit products
| Q&A: A silver lining for EM bonds? |
Sept. 22, 2015 ::
No longer are emerging markets a monolithic asset class as some countries are fairly well positioned in the current global environment
| FedWatch: Are we there yet … No! |
Sept. 17, 2015 ::
Citing 'recent global economic and financial developments' as one reason, the Fed keeps rates near zero.
| FedWatch: Forget 1-in-4; we say 50-50 |
Sept. 10, 2015 ::
We think the likelihood of Fed rate hike next week is higher than the market does.
| Market Memo: An overdue correction, nothing worse |
Aug. 27, 2015 ::
Bonds had their correction two summers ago; now it was equities' turn. But that's all it is.
| FedWatch: Inching closer to 'See you in September' |
Jul. 29, 2015 ::
Fed policymakers cite improving labor market, a sign that they are moving closer to raising rates
| FedWatch: Go ahead and go to the beach |
Jul. 24, 2015 ::
The markets would be very surprised if the Fed says anything of substance after it meets next week
| Market Memo: The case for bonds remains solid |
Jul. 14, 2015 ::
A Fed liftoff, which appears to be moving closer, isn't necessarily a bad thing for bonds
| Fixed Income Outlook: Greece is not the word |
Jul. 13, 2015 ::
Credit still favored over Treasuries as growth fundamentals keep trumping geopolitical worries
| Puerto Rico's debt woes: What does it mean for municipal bond holders? |
Jul. 2, 2015 ::
Puerto Rico’s troubles are somewhat unique and the prospect of panic selling of these bonds or heavy selling of municipal bonds in general seems low.
Join Senior Portfolio Manager R.J. Gallo each quarter as he shares insights on timely market trends and topics.