Featured Insights


Chart of the Week

CASH: PLENTY OF DRY POWDER

Chart courtesy of ClearBridge Investments. * Institutional & Retail Money Funds – ICI. ** MSCI U.S. IMI Index. Data as of July 3, 2020. Source: FactSet. Past performance is no guarantee of future results. Indexes are unmanaged, and not available for direct investment. Index returns do not include fees or sales charges. This information is provided for illustrative purposes only and does not reflect the performance of an actual investment

Cash: Plenty of dry powder

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 Outlook
Sep 04
Market Outlook

COVID-19's Impact on Inflation

September 04, 2020

Despite upward price pressures in certain industries, on balance there's doesn't appear to be sustained inflation dynamic at work.

Investment Insights
Sep 01
Investment Insights

Corporate Credit: Turning to Cyclicals

September 01, 2020

While we see further opportunities in cyclicals, the strength of an upturn in these sectors remains highly uncertain.

Market Outlook
Sep 01
Market Outlook

Recovery Indicators Update

Rebound Gaining Steam

September 01, 2020

Improvement in Housing Starts and Credit Spreads data confirms our view that a durable market and economic bottom has formed.

Market Outlook
Aug 27
Market Outlook

The New Normal

The Office: Not Dead Yet

August 27, 2020

The pandemic has created short-term demand challenges for office properties, but we are skeptical that working from home will severely impact office usage long-term.

Investment Insights
Aug 26
Investment Insights

U.S. Economy

Durables Manufacturing: Signs of Recovery

August 26, 2020

Total durables orders jumped a whopping 11.2% in July, with a large 1.1% upward revision to the June estimate.

Market Outlook
Aug 26
Market Outlook

Market commentary

Glimmers of Optimism

August 26, 2020

We are encouraged by optimism on both the medical and economic fronts. But while recent events are promising, we believe the road ahead will be a long one.

Market Outlook
Aug 20
Market Outlook

Around the Curve

Dollar Outlook Dims

August 20, 2020

We believe the four key forces supporting the dollar are in retreat.

Investment Insights
Aug 19
Investment Insights

Weekly muni monitor

Spread Tightening Stalled

August 19, 2020

Absent improving fundamentals, we believe additional spread compression will remain paused.

Investment Insights
Aug 18
Investment Insights

Economy update

Signs of Recovery in Retail

August 18, 2020

July retail sales (excluding restaurants) are well above pre-COVID levels, but much of that took place online.

Investment Insights
Aug 12
Investment Insights

Muni update

Tax Policy News: New York, California

August 12, 2020

Proposals in two key states would change the landscape for the largest issuers and their investors.

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