Investment Insights
Featured Investment Insights
Corporate America Will Be (Mostly) Okay
Is the rapid increase in corporate borrowing this year a harbinger of tough times to come? The answer isn’t simple.
The Push for Sustainable Infrastructure
Public policy support for infrastructure to help stimulate the economy should now reflect concerns about climate change, too.
Commercial real estate
Logistics On the Move
Investment in new warehouse space, market proximity and relative costs have helped boost U.S. East Coast ports and inland hubs, particularly in the Southeast.
Corporate Credit: Turning to Cyclicals
While we see further opportunities in cyclicals, the strength of an upturn in these sectors remains highly uncertain.
U.S. Economy
Durables Manufacturing: Signs of Recovery
Total durables orders jumped a whopping 11.2% in July, with a large 1.1% upward revision to the June estimate.
Investment Insights
Weekly muni monitor
Spread Tightening Stalled
Absent improving fundamentals, we believe additional spread compression will remain paused.
Economy update
Signs of Recovery in Retail
July retail sales (excluding restaurants) are well above pre-COVID levels, but much of that took place online.
Muni update
Tax Policy News: New York, California
Proposals in two key states would change the landscape for the largest issuers and their investors.
Municipal Market Update: July
Western Asset examines recent trends in the muni bond market and provides its outlook about conditions ahead.
Muni weekly update
Taxable Spread Opportunities
Foreign demand for taxable munis is generating new issuance, and a potential benefit for spread investors.
Navigating Through the Fog of Uncertainty
Small-cap stocks are behaving in an historically familiar way, yet the first half of 2020 has been anything but normal.
The Fed
Preparing for a Long Period of Easing
The Fed is planning for a prolonged period of accommodation, and seeking to ensure its policies can be sustained as long as needed.
Weekly Monitor
Munis: Mid-Year Review
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.
Infrastructure Earnings and COVID-19 Uncertainty
The market has potentially mispriced COVID-19's impact on both earnings and the market risk premium attached to infrastructure assets.
Inflation: Is 2% the Right Target?
Main Street and Wall Street have divergent opinions about the Fed's longstanding 2% inflation target.
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