Market Outlook

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Market Outlook

Market Outlook
Apr 01
Market Outlook

Fixed income

Update: Treasury Market Liquidity

April 01, 2020

The Fed's moves to address liquidity issues in the Treasury market appear to be having the intended effect -- but pockets of concern remain.

Market Outlook
Mar 30
Market Outlook

COVID-19, Volatility and U.S. Commercial Real Estate

March 30, 2020

While severe, we believe that the COVID-19 shock is likely transitory, and remain optimistic about the long-term U.S. economic outlook and real estate fundamentals.

Market Outlook
Mar 30
Market Outlook

Impact: COVID-19 and Brazil

March 30, 2020

Our base case: a sharp decline in Brazil's GDP followed by a rebound heading into 2021.

Market Outlook
Mar 26
Market Outlook

Economic outlook

Depressed Inflation and Growth: Unlikely

March 26, 2020

Inflation may stay subdued, but should move above the levels implied by current breakeven inflation rates once it's apparent that economic recovery has begun.

Market Outlook
Mar 26
Market Outlook

Encouraging Signs Are on the Horizon

March 26, 2020

Volatility associated with recent deleveraging should start to dampen going forward; higher-quality companies with durable business models and good earnings visibility should weather this storm better than most.

Market Outlook
Mar 25
Market Outlook

Keeping a Strong Municipal Core Amid Volatility

March 25, 2020

Despite challenges posed by COVID-19, we believe overall municipal fundamentals remain intact -- and that attractive relative valuations will increase demand when volatility subsides.

Market Outlook
Mar 24
Market Outlook

Around the Curve

Coronavirus Pandemic: Difficult Tradeoffs

March 24, 2020

On March 23, the Fed announced dramatic actions, both in initiative and scale. But the nature of the crisis may require even more innovative moves.

Market Outlook
Mar 19
Market Outlook

Credit update

Mortgages, Consumer Credit: COVID-19 Prone?

March 19, 2020

As volatility increases, US fixed income investments backed by high-quality mortgage and consumer loans may potentially provide strong risk-adjusted return outcomes.

Market Outlook
Mar 17
Market Outlook

Zero rates arrive in U.S.

The Fed’s Emergency Actions

March 17, 2020

The zero interest rate policy announced by the Fed on Sunday will likely be here for a while -- and could continue even after COVID-19 concerns have moderated.

Market Outlook
Mar 13
Market Outlook

Extreme Volatility Likely to Persist Amid Uncertainty

March 13, 2020

We believe the trend in equity markets will be lower until greater clarity emerges regarding the spread of COVID-19.

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