OPEC: Production caps, the hard way

Some Opec and other producers can't fill even minimum production quotas; Italy's latest proposed coalition spooked markets; U.S. retail sales were good, but not great; German companies' order backlog sent mixed messages.

Mid Week Bond Update

Higher Yields: Here, There... But Not Everywhere

Look beyond the 3 percent yield on the U.S. Treasury 10-year and you’ll notice rates are up elsewhere as well...

U.S. inflation: Missing in action

Consumer inflation didn't move the dial much this past year as of April; corporate spending rose, but explanations vary; Italy moved ever closer to an improbable governing coalition; the Bank of England held off raising its base rate, citing Brexit uncertainty.

Municipal Market Update: April

Western Asset examines recent trends in the muni bond market and provides its outlook about conditions ahead.

Mid Week Bond Update

It's Not Just the Shape

It’s the underlying yields, rather than the overall shape of the curve, that have been the focus in recent days for fixed income markets.

Argentina: currency crisis

Argentina’s dramatic emergency actions to restore confidence in the peso have hit valuations of local currency bonds. However, barring default or a dramatic collapse of the country's currency, patient holders of securities may still make positive returns.

Unconstrained fixed income

Long/Short - Amplify or Mute

Long/short strategies allow managers to take advantage of both positive and negative views on bond markets and currencies and to profit from both up and down markets. This approach can potentially limit downside risks when interest rates and volatility are rising, and amplify returns on securities or sectors where a manager has a high conviction that valuations may rise.

China trade: Short visit, long distance

The U.S. officials' two-day visit left much work to be done; U.S. employment in April was good not great; Europe got a reprieve from the conflict between its trading partners; there's so much crude being produced in Midland, Texas that it can't leave the area.

Could The Tariff Skirmish Have a Silver Lining?

Trump’s antagonistic approach to redefining U.S. trade relationships is creating challenges now, but could eventually lead to a “trade peace” that expands global commerce.

Mid Week Bond Update

U.S. Treasuries: More than Meets the Eye

For 10-year Treasuries, a glance at previous cycles offers clues about what might await

Market & Strategy Update

Global Economy: A Work in Progress

Despite the fairly meaningful downshift in growth and inflation, we still believe that the global recovery will be ongoing but could take a very long time to gain traction – even with the help of continued accommodative monetary policy.