MBS

Highlights Chart 1More Stimulus Forthcoming? More Stimulus Forthcoming…

Highlights Chart 1Low-Rated Junk Returns Are Lagging Low-Rated Junk Returns Are Lagging…

Highlights The Fed has been awfully busy since the middle of March, … : Over the last 30 days, the Fed has unleashed a barrage of measures to support market liquidity and alleviate economic hardship. … unveiling a package of facilities to keep credit flowing to consumers, businesses and…

Highlights Chart 1Will Fed Purchases Mark The Top? Will Fed Purchases Mark The Top…

Highlights Duration: It is too soon to call the bottom in bond yields. To help make that call we will be looking for when: daily new COVID-19 infections reach zero, global growth indicators improve, US economic indicators worsen, technical indicators signal a reversal. Fed: Low inflation…

Highlights Chart 1Making New Lows Making New Lows…

Highlights Chart 1Softer PMIs In December Softer PMIs In December…

Highlights Below-Benchmark Duration In 2020 H1. Improving global growth and the de-escalation of US/China trade tensions will put upward pressure on bond yields in the first half of 2020, making below-benchmark portfolio duration appropriate. US political risks could re-assert themselves as we…

Highlights Chart 1Manufacturing PMIs Track Bond Yields Manufacturing PMIs Track Bond Yields…