Improving credit fundamentals, light tax-exempt supply and robust demand have driven the strong performance of municipal bonds in 2019.
The Armageddonists and the price of fame.
Global trade tensions may continue into 2020, weighing on global growth and acting as a headwind for further equity market gains.
Armageddonists and the portfolio cost of fear, 2010-2019
EM should continue to provide a substantial economic growth alpha relative to developed markets due to better demographics and a productivity catch-up.
We emerged with a cautious near-term view from our latest quarterly strategy meeting in early September. In our base case scenario, the global economy is expected to narrowly avoid recession and continue to grow, albeit much more slowly.
This paper examines the U.S. commercial mortgage loan (CML) market and U.S. insurers��� investments in CMLs.