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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.
| 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.
| In Short: This EM rally should have legs |
Apr. 6, 2016 ::
A stabilizing China, massive ECB asset purchases and falling correlations between the EM and oil bolster the emerging-market outlook.
| 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.
| FedWatch: Almost there |
Jun. 17, 2015 ::
The Fed did not raise rates today, but its FOMC statement suggests it will soon.
| FedWatch: Trail of 'dots' should lead the way |
Jun. 11, 2015 ::
With June lift-off very unlikely, Fed's "dot" chart will help the market discern the pace of anticipated future hikes.
| In Short: A buying opportunity for munis? |
May 28, 2015 ::
A heavy supply of muni issuance has undermined year-to-data performance, but this supply-demand imbalance should prove temporary
| In Short: Why longer yields spiked (and may take a break) |
May 14, 2015 ::
Stabilizing sovereign euro yields and continued data disappointments could cause near-term retracement in long yields; but bias remains up
| In Short: Emerging-market Fed fears may be overdone |
May 7, 2015 ::
Underlying conditions are improving and a Fed rate hike may not be all that disruptive
Join Senior Portfolio Manager R.J. Gallo each quarter as he shares insights on timely market trends and topics.