Commentary

Three Qs for Q3: Insights for inquiring equity investors

Markets, and particularly cyclical stocks, have made great strides in the first six months of the year.

Commentary

Deep Questions Rarely Have Surface-Level Answers

The pristine surface of a lake on a perfectly calm and sunny day is easy on the eyes. Yet it usually offers no insight as to what lies beneath.

Commentary

Equities to Hedge Equity Risk

Russ discusses why low vol and quality stocks are exhibiting surprisingly strong performance.

Commentary

Non-U.S. Markets Brimming In Investment ‘Excitement’

The investment opportunities are constantly changing as economic reopenings roll on.

Commentary

Municipal Market Insight

Municipals posted another month of positive performance amid rangebound interest rates.

Commentary

High Yield: Rising Stars and Other Omens

Over the past year, a surge of investors drove high-yield bond prices back to pre-pandemic levels.

Commentary

In Unprecedented Times, Don’t Rely on (Obvious) Precedent

In 1974, U.S. President Gerald Ford took office “amidst one of the worst economic crises in U.S. history,” which was characterized by double digit inflation.

Commentary

Investors’ Wants Can be Very Different from Their Needs

“You can't always get what you want
But if you try sometimes, well, you might find
You get what you need”
“You Can’t Always Get What You Want,” The Rolling Stones (Let It Bleed, 1969)

Commentary

The Role of Chinese Assets

Strategic rivalry between the U.S. and China is creating a bipolar world.

Commentary

One Hot Economy, Two Burning Questions on Value and Income

The switch on the U.S. economy is readying to come fully “on,” more than a year after the global pandemic forced abrupt closures around the world and across industries.

Commentary

Mind the (rate expectation) gap

Markets are pricing in a liftoff from near-zero policy rates as early as next year, even though the Fed through its new framework has committed to stay behind the curve on inflation. We caution against extrapolating too much from strong near-term activity data amid a powerful restart. We see a high bar for the Fed to change its policy stance and believe this may be underappreciated by markets.

Commentary

Don’t Underestimate the U.S. Consumer

Markets have massively recovered from panic-driven lows last spring, and investors are now rightly contemplating if we have come too far too fast.

Commentary

Why We Remain Pro-risk

A powerful economic restart is underway in the U.S. – with Europe and emerging markets (EMs) set to follow.

Commentary

Strategic Income Opportunities Fund

A flexible bond strategy can deliver strong performance with low volatility by diversifying across global markets.

Commentary

An Investor, An Economist and a Post-Pandemic Outlook

After an unprecedented year, investors can expect an equally unmatched economic and market recovery.