We cut the chances of recession to 25% after a thaw in the trade war and a year of rate cuts; our forecast is for sub trend growth. Favored sectors include emerging market local currency debt and higher rated short-duration securitized credit.
Why the US dollar may not be as overvalued as you think
This paper examines the U.S. commercial mortgage loan (CML) market and U.S. insurers’ investments in CMLs.
Implications for insurance capital requirements
Reaching for yield, which we define as buying bonds with wider spreads after controlling for sector and rating impacts, is a topic that frequently arises in the life insurance industry.
EURUSD should be rangebound
What are the bright spots in fixed income?
How can investors potentially achieve greater total return in an unconstrained fixed income portfolio?
Do high yield bonds and leveraged loans still have room to run?
Is now the time for de-risking?