Featured Investment Insights
Is the rapid increase in corporate borrowing this year a harbinger of tough times to come? The answer isn’t simple.
Public policy support for infrastructure to help stimulate the economy should now reflect concerns about climate change, too.
Commercial real estate
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.
While we see further opportunities in cyclicals, the strength of an upturn in these sectors remains highly uncertain.
Total durables orders jumped a whopping 11.2% in July, with a large 1.1% upward revision to the June estimate.
Weekly muni monitor
Absent improving fundamentals, we believe additional spread compression will remain paused.
July retail sales (excluding restaurants) are well above pre-COVID levels, but much of that took place online.
Proposals in two key states would change the landscape for the largest issuers and their investors.
Western Asset examines recent trends in the muni bond market and provides its outlook about conditions ahead.
Muni weekly update
Foreign demand for taxable munis is generating new issuance, and a potential benefit for spread investors.
Small-cap stocks are behaving in an historically familiar way, yet the first half of 2020 has been anything but normal.
The Fed is planning for a prolonged period of accommodation, and seeking to ensure its policies can be sustained as long as needed.
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.
The market has potentially mispriced COVID-19's impact on both earnings and the market risk premium attached to infrastructure assets.
Main Street and Wall Street have divergent opinions about the Fed's longstanding 2% inflation target.
All investments involve risk, including loss of principal. Past performance is no guarantee of future results. Please see each product’s webpage for specific details regarding investment objective, risks, performance and other important information. Review this information carefully before you make any investment decision.