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10 minute read
3 minute read
Lowering the 10-year Treasury yield is more difficult than some think.
Were the bond vigilantes behind the recent upheaval in UK government debt?
2 minute read
The Fed kept rates steady, and Chair Powell kept his distance from Trump.
The factors that supported MBS last year are still in place.
5 minute read
A variable order of events will influence bond markets
Three things to watch in 2025.
A small number of people could have a large impact on the economy in 2025.
While it cut rates, uncertainty about Trump policies seem to give the Fed pause.
Three things to watch in 2025
The themes that matter for the coming year.
Powell rebuffed questions about the Fed's future, and his own, but his nebulous comments give the FOMC latitude.
Federated Hermes CIOs react to the U.S. election.
4 minute read
The implications for foreign policy could be far-reaching
Auto ABS delinquency and charge-off rates are rising, but fundamentals remain strong.
A strong quarter for bonds as a patient, diversified approach is rewarded
Frontier countries fuel emerging market debt
Fed easing means fixed-income investments should benefit from both factors of total return: price and income.
The data did not support the large cut, but the Fed did not want to seem behind the curve.
The Fed’s half-point rate cut shows it still thinks the economy can avoid a recession.
The Employee Retirement Income Security Act led to 401(k)s and IRAs.
The markets’ first test is Friday’s August jobs report.
The election likely will determine the fate of the Tax Cut and Jobs Act.
The predictive strength of the curve’s inversion has waned, but not disappeared.
As rate cuts are up for debate, focus on the impact on the short end of the yield curve.
2 minute watch
More goes into the bond selection process than price.
According to the major rating agencies, the high-yield market has migrated higher in quality in recent years.
Congress’s choice to maintain or lapse the TCJA could impact munis.
3 minute watch
Municipal bonds are priced with tax protection in mind.
Markets are already pricing in potential November scenarios.
Rates won’t be higher forever.
In fixed income, there’s quite a difference between current yield and yield-to-maturity.
Both Biden and Trump failed to address the Treasury’s debt at the debate.
Fears grow that Brazil will fail to eliminate its deficit.
IG-rated banks are well-positioned to handle the increase in office vacancies.
The Fed penciled in a cut this year even as it forecast higher inflation.
1 minute read
Without a majority, Prime Minister Modi must assemble a coalition.
The impact of office CRE woes on most cities is mitigated by their diversification of revenue.
We expect a strong summer note season in the municipal markets ahead of the election.
It’s all about the data.
The U.S. Treasury’s plan to buy back some of its securities should have many benefits.
Sticky inflation might slow the Fed, but not the timeliness of extending duration.
Historically, the last leg toward a given inflation target has often been the most difficult.
Is the equity market rally inconsistent with Fed policy?
The Fed's dot plot held the intrigue at the FOMC meeting.
Investors should think constructively about the “Maturity Wall.”
China must address its faltering economy with much more fiscal stimulus.
1 minute watch
The expectation of rate cuts makes corporate bonds an attractive opportunity.
7 minute read
Magnificent Seven continue to outperform.
The Fed will look closely at inflation numbers before making any cuts.
Income and duration lead total return potential.
Three things to watch in 2024.
MBS issued by U.S. housing agencies could have advantages for investors if the economy slows.
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