Featured Insights

Chart of the Week


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
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.

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.

Investment Insights
Aug 10
Investment Insights

Municipal Market Update: July

August 10, 2020

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

Investment Insights
Aug 07
Investment Insights

Muni weekly update

Taxable Spread Opportunities

August 07, 2020

Foreign demand for taxable munis is generating new issuance, and a potential benefit for spread investors.

Investment Insights
Jul 29
Investment Insights

The Fed

Preparing for a Long Period of Easing

July 29, 2020

The Fed is planning for a prolonged period of accommodation, and seeking to ensure its policies can be sustained as long as needed.

Investment Insights
Jul 08
Investment Insights

Weekly Monitor

Munis: Mid-Year Review

July 08, 2020

It was the most volatile first half-year in the history of the muni market, yet the Bloomberg Barclays Municipal Index still returned 2.08% for the period following a strong second quarter.

Investment Insights
Jul 07
Investment Insights

Inflation: Is 2% the Right Target?

July 07, 2020

Main Street and Wall Street have divergent opinions about the Fed's longstanding 2% inflation target.

Investment Insights
Jun 30
Investment Insights

Fixed Income Markets

Fallen Angels Could Bring Opportunities

June 30, 2020

The recent wave of corporate bond downgrades has dropped many companies' debt into the high yield sector. But could some "fallen angels" rise again?

Investment Insights
Jun 17
Investment Insights

Muni Weekly Monitor

Muni Payrolls Decline, Highlighting Austerity

June 17, 2020

A deep dive into what jobs data associated with COVID-19 says about austerity at the state and local government levels.

Investment Insights
Jun 16
Investment Insights

Markets: UK

Britain, the Bank, and Brexit

June 16, 2020

With the Bank of England likely to keep rates very low and increase asset purchases, UK gilt yields and corporate bonds appear well supported; less so, the British pound.


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