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The Negative Rates Experiment | Bond Market Perspectives | April 26, 2016
Negative interest rate policies have had profound implications for bond investors thus far, but limited benefits for the economies intended to gain from them.
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Value Comeback? | Weekly Market Commentary | April 25, 2016
After underperforming most of the last decade, value has shown signs of life recently. We are a bit skeptical that the recent value resurgence is the beginning of a sustainable reversal in trend.
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FOMC FAQs: When Doves Cry? | Weekly Economic Commentary | April 25, 2016
The Fed holds its third of eight FOMC meetings of 2016 this Tuesday and Wednesday, April 26-27, 2016. Without a press conference or a new set of economic and fed funds projections, the Fed must rely on its statement to communicate a complicated message to markets.
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Portfolio Compass | April 20, 2016
Upgraded emerging markets to neutral from negative/neutral. We continue to expect modest stock market gains in 2016,* led by U.S. large caps.
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Bond Market Perspectives | Mixed Messages from Municipals | April 19, 2016
The combination of near record low yields and fair valuations, along with changing seasonal factors, sends mixed messages to municipal investors.
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Following the Money in EM Currency Markets | Weekly Economic Commentary | April 18, 2016
The direction of emerging market (EM) currencies relative to the U.S. dollar is a key element of EM returns. The value of the U.S. dollar is determined by many factors, including global fund flows.