Armageddonists and the portfolio cost of fear, 2010-2019
Accessing new sources of uncorrelated alpha
Given current and projected productivity and labor supply dynamics, productivity is unlikely to provide a significant lift to future growth.
Since the financial crisis, for a relatively liquid investment CLOs consistently have had the highest spreads net of capital costs for US life insurers.
Investment grade and high yield credit in emerging markets have delivered divergent performance over the summer. Could this trend reverse, or is investor caution warranted in the high yield space?
Learn about the important topics covered in the Outlook and their potential impact on broader markets. Michael Cembalest touches on topics including: the global banking system, oil markets, the credit risk of US states and credit market liquidity.
Improving credit fundamentals, light tax-exempt supply and robust demand have driven the strong performance of municipal bonds in 2019.