Featured Insights


Chart of the Week

BONDS: REACHING FOR YIELD? LOOK TO RETURN

Source: Bloomberg and Legg Mason, Jan 18, 2018. 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.

Market Snapshot

U.S. Jobs Chasing Workers?

For unemployment claims, the devil was in the details; Global oil looked to offer its own cure for high crude prices; China growth beat expectations


Featured Insights

Investment Insights
Jan 12
Investment Insights

Municipal Market Update: December

January 12, 2018

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

Market Outlook
Nov 22
Market Outlook

Ken Leech Commentary

Market Commentary

November 22, 2017

On November 2, President Donald Trump named Jerome Powell the next Chair of the Federal Reserve (Fed) Board, succeeding Janet Yellen. This confirmed our thesis that the Trump Administration would be looking for Fed candidates who were 1) pro-growth, 2) comfortable with low short-term interest rates, 3) open to a lighter touch toward financial regulation, and 4) members of the Republican Party.

Market Outlook
Oct 24
Market Outlook

The big picture in bonds:

Market and Strategy Update

October 24, 2017

The market’s enthusiasm for massive growth immediately following last year’s US presidential election waned significantly after healthcare initiatives failed to materialize, infrastructure spending stalled and geopolitical tensions flared. While we were skeptical of too much optimism at the start of the year, we now think pessimism may be too strong as fundamentals slowly and steadily improve.

Market Outlook
Sep 26
Market Outlook

Looking beyond the obvious

Finding Value in Bonds Now

September 26, 2017

Current yields and spreads are creating the perception that fixed income isn’t offering much value, but Western Asset Deputy CIO Michael Buchanan does see pockets of opportunity in several segments of the market.

Market Outlook
Aug 25
Market Outlook

President Trump's Pick for Fed Chair

August 25, 2017

“[Yellen] is not a Republican. When her time is up, I would most likely replace her because of the fact that I think it would be appropriate.” “[Yellen] is a low-interest-rate person, she’s always been a low-interest-rate person, and let’s be honest, I’m a low-interest-rate person.” ~Donald J. Trump, CNBC Interview, May 5, 2016

Investment Insights
Aug 15
Investment Insights

Managed Munis: The Value of Choice

August 15, 2017

Active management may be valuable for municipal bond investors today.

Market Outlook
Aug 08
Market Outlook

Policy Matters

Four Lessons from the Taper Tantrum

August 08, 2017

The lessons from the 2013 taper tantrum are relevant for bond investors today, but as circumstances are different we do not expect a similar outcome.

Market Outlook
Jul 26
Market Outlook

Steady growth and moderate inflation:

Market and Strategy Update

July 26, 2017

Western Asset CIO Ken Leech explains why growth and inflation expectations have proven more optimistic than fundamentals could support. His base case continues to be slow but steady US growth and moderate inflation -- and that spread sectors will continue to be an attractive opportunity for fixed income investors in this environment.

Market Outlook
Jul 14
Market Outlook

Western Asset Global Outlook

Could the Fed be more cautious about future hikes?

July 14, 2017

The current steady but unspectacular global growth backdrop has not materially changed. We remain optimistic that global growth of around 3% is sustainable while recognizing that high debt loads and other headwinds, including low productivity and...

Market Outlook
Jun 04
Market Outlook

Ken Leech Commentary

Market & Strategy Update

June 04, 2017

Until recently, the market consensus was one of “secular stagnation,” predicting anemic growth for the indefinite. Today, the prevailing theme is “global reflation,” calling for synchronized global growth that will lead to self-sustaining recoveries around the world. Western Asset has a different view. Read more.

Investment Insights
Apr 19
Investment Insights

French election update:

A four-horse race

April 19, 2017

Some worry about a political tsunami. But so far, it looks like a four-way tie. The least likely outcome, a Le Pen / Mélenchon run-off, could trigger significant market volatility, providing attractive opportunities for astute investors.

Investment Insights
Mar 23
Investment Insights

A top national priority

Investing in infrastructure

March 23, 2017

With bipartisan support at every level of government, investors are likely to see more infrastructure investment opportunities surface faster.

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