Featured Insights
COVID-19, Volatility and U.S. Commercial Real Estate
While severe, we believe that the COVID-19 shock is likely transitory, and remain optimistic about the long-term U.S. economic outlook and real estate fundamentals.
Economic outlook
Depressed Inflation and Growth: Unlikely
Inflation may stay subdued, but should move above the levels implied by current breakeven inflation rates once it's apparent that economic recovery has begun.
COVID-19: How Long Will It Last?
The pattern of coronavirus cases in South Korea provides a rough estimate of what we can expect in the U.S.
Keeping a Strong Municipal Core Amid Volatility
Despite challenges posed by COVID-19, we believe overall municipal fundamentals remain intact -- and that attractive relative valuations will increase demand when volatility subsides.
Around the Curve
Coronavirus Pandemic: Difficult Tradeoffs
On March 23, the Fed announced dramatic actions, both in initiative and scale. But the nature of the crisis may require even more innovative moves.
Chart of the Week
Chart inspired by Western Asset. Source: Muni Yields: Thomson Reuters MMD, Treasury Yields: Bloomberg. As of 23 March 2020. Past performance is no guarantee of future results. This information is provided for illustrative purposes only and does not reflect the performance of an actual investment.
Muni bonds: Yield surge
Chart of the Week
Market Snapshot
Oil Shock: The Energy Sector and Beyond
The collapse in oil prices has added to market dislocations and uncertainty associated with the coronavirus pandemic.
Featured Insights
Market update
Why Infrastructure Now
RARE Co-Founder Nick Langley on why listed infrastructure may be uniquely suited to current market conditions.
Fixed income
Update: Treasury Market Liquidity
The Fed's moves to address liquidity issues in the Treasury market appear to be having the intended effect -- but pockets of concern remain.
Is This Time Really Different?
All crises are inherently different. However, people’s reaction to them is remarkably consistent, and there's no evidence to suggest this has changed.
Impact: COVID-19 and Brazil
Our base case: a sharp decline in Brazil's GDP followed by a rebound heading into 2021.
Time for a Long-Term Perspective
With markets experiencing their worst falls since the global financial crisis, we believe focusing on long-term themes is more important than ever for investors.
Encouraging Signs Are on the Horizon
Volatility associated with recent deleveraging should start to dampen going forward; higher-quality companies with durable business models and good earnings visibility should weather this storm better than most.
Oil Shock: The Energy Sector and Beyond
The collapse in oil prices has added to market dislocations and uncertainty associated with the coronavirus pandemic.
The Fed's Latest Moves: A Game-Changer
The Fed policy initiatives introduced in recent weeks together represent a game-changer for the economy -- in ways that go beyond what you might think.
Fed Facilities Supporting U.S. Money Market Funds
The facilities the Fed put in place span three key investment types: repos, US Treasury securities and commercial paper. We believe more support is still to come.
Global Listed Infrastructure
Defend Against Uncertainty
Utility companies with resilient earnings and cash flow offer investors the potential for greater stability until fundamentals emerge once again as the key driver of stock prices.
All investments involve risk, including loss of principal. Past performance is no guarantee of future results. Please see each product’s webpage for specific details regarding investment objective, risks, performance and other important information. Review this information carefully before you make any investment decision.
