Featured Insights


Chart of the Week

Source: Bloomberg, as of 6/21/17.  Past performance is no guarantee of future results. An investor cannot invest directly in an index. Unmanaged index returns do not reflect any fees, expenses or sales charges. This information is provided for illustrative purposes only and does not reflect the performance of an actual investment.

U.S. Treasury yields: Throwing curves

What's behind the surprising shift in yields of U.S. Treasuries since the beginning of this year? Is it the result of benign economic progress, or is it a sign of something more ominous?

Market Snapshot

Brexit: New and improved?

The UK went to Europe with a newly humble brief; US home buyers emerged in force to confront insufficient demand; The Fed's hawks are still on the wing


Insights

Market Outlook
Jun 28

Mid-Week Bond Update

Hawk plot - but no more Bollywood tantrums

On the cusp of the tenth anniversary of the financial crisis, and after billions of US dollars, euros and pounds spent to revive global growth, major central bank leaders sent hawkish messages almost in coordinated fashion, a move that could well signal the end of a decade-long stimulus era. From London, US Federal Reserve (Fed) chair Janet Yellen said...

Investment Insights
Jun 28

Around The Curve

Breaking Argentina’s Default Cycle

Investments in Argentine debt have performed well over the past year as the macroeconomic policy mix shifts in the right direction. However, given the sovereign’s history of frequent defaults, we and other market participants understandably spend a lot of time thinking about what could go wrong.

Market Snapshot
Jun 23

Brexit: New and improved?

The UK went to Europe with a newly humble brief; US home buyers emerged in force to confront insufficient demand; The Fed's hawks are still on the wing

Market Outlook
Jun 21

Mid-Week Bond Update

The Fed vs the markets

Global sovereign bonds rallied over the past five trading days as oil plunged, inflation expectations sank and data remained soft – all of which led some investors to question the US Federal Reserve’s (Fed) rate hiking path. A string of disappointing inflation, exports and investment data has...

Market Snapshot
Jun 16

Up and down: The Fed and crude oil

The Fed hiked its target rate, but its inflation bogey remains elusive; crude oil fell further on bulging inventories; Greece got a lifeline; formal Brexit negotiations finally begin.

Investment Insights
Jun 15

The power of choice

Why Active Management Makes A Difference

Choice is at the heart of investing; one can’t own everything. But should investment choices be made in a mechanical way, based on an index? Or should they be made selectively, based the research and expertise of an active manager?

Market Outlook
Jun 15

Around the Curve

A Tourist’s Guide to Currency Management

It’s that time of year when friends and colleagues are asking about summer vacation plans. Interestingly, this question happens to dovetail with the requests we get on where we potentially see value. For those tourists who are stuck on ideas, a first logical step may be to identify favorable exchange rates to help narrow down potential destinations.

Investment Insights
Jun 14

Fed Decides

The Fed hikes, but how many more?

For the second time in 2017, the U.S. Federal Reserve raised the federal funds target rate, now at 1.25%. Will the Fed stand pat in September?

Market Outlook
Jun 14

Mid-Week Bond Update

Is the Fed really tightening?

Global bond markets soared on Wednesday, reversing a mixed five-day period, after US inflation disappointed for a third consecutive month and the Federal Reserve (Fed) reinforced its dovish stance, despite rising, as expected, rates. The US central bank lifted its target rate to 1.25%, from 1%. However, financial conditions continued to ease...

Market Outlook
Jun 12

Tailwinds for MLPs?

Regulatory delays for pipeline development are easing and drilling activity is increasing, which could have positive implications for MLPs in the energy sector.

Market Outlook
Jun 09

Western Asset Global Outlook

Pessimism on political outlook goes too far

The current steady but unspectacular global growth backdrop has not materially changed. We remain optimistic that global growth of around 3% is sustainable while...

Market Snapshot
Jun 09

Oil and gas: Qatar walling

Qatar's sudden exile was years in the making; Theresa May erodes her own base; US consumers leverage up; Spain's banks pass a test.

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