“Why is the world’s greatest economy struggling to live up to its potential? And, perhaps more importantly, how do we fix it?”
Month: September 2016
“Mortgage-backed securities (MBS) may offer additional value versus Treasuries in a range-bound or rising rate environment.”
“The Five Forecasters favor the continuation of the current economic expansion and bull market.”
The LEI provides a valuable monthly guidepost regarding where we are in the economic expansion.
“As expected, the Federal Reserve’s (Fed) policymaking arm, the Federal Open Market Committee (FOMC), opted not to raise rates at the conclusion of its two-day policy meeting on Wednesday, September 21.”
“Downgraded telecom to negative/neutral from neutral. Upgraded mortgage-backed securities and bank loans to neutral/positive from neutral.”
“The municipal bond market is dealing with a surge of supply of epic proportions, both from new issuance and existing supply in the secondary market.”
“By nature, emerging markets (EM) have greater risks, but they also have attractive attributes relative to developed foreign markets.”
With a rate hike unlikely, the Fed may begin to prepare the markets for a hike in December.
“We do not see the recent rise in Treasury yields as the start of another “taper tantrum” bond sell-off.”