Commentary

Monthly Municipal Market Update, August 2020

A brief monthly update on what's happening in the municipal bond market.

Commentary

Munis in Focus: 2020 Municipal Market Update

In a challenging year dominated by the COVID-19 pandemic, the municipal market is recovering on the strength of unprecedented federal support.

Commentary

The Role of Bonds in a New Era of Low Yields

Resiliency and diversification potential remain critical in a world with meaningful uncertainty ahead.

Commentary

Back‑to‑School Challenges Are Serious, But They Shouldn’t Scare Municipal Investors

Although the pandemic could make for a chaotic return to school, it is unlikely to create significant municipal credit stress.

Commentary

Back-to-School Challenges Are Serious, But They Shouldn’t Scare Municipal Investors

Although the pandemic could make for a chaotic return to school, it is unlikely to create significant municipal credit stress.

Commentary

Monetary Policy Framework: The Fed Says What, But Needs Help on How

The Federal Reserve released the results of its multiyear framework review alongside a speech by Fed Chair Jerome Powell at the Kansas City Fed’s Economic Policy Forum on 27-28 August. While the announcement came earlier than anticipated, the conclusions were in line with the evolutionary, not revolutionary, changes to the Fed’s framework we have long been expecting.

Commentary

Gold Still Shines Bright

Despite reaching record highs earlier this month, gold remains attractively valued, according to our framework.

Commentary

All Asset All Access: Tactical Repositioning in a Changing Global Market

Research Affiliates discusses the increase in portfolio tactical shifts and recent research efforts supporting the All Asset strategies in today’s evolving investment environment.

Commentary

Monthly Municipal Market Update, July 2020

A brief monthly update on what's happening in the municipal bond market.

Commentary

A Slow and Uneven Recovery Still Likely Despite July’s U.S. Price Bounce

Rising prices in July have led PIMCO to raise its core inflation forecast for 2020, but not 2021.

Commentary

Income Fund Update: Focused on Finding Opportunities in Today’s Markets

Looking across the global opportunity set, we see potential for attractive yield, though uncertainties surrounding the global recovery suggest this is a time to be cautious.

Commentary

Fed Reinforces Commitment to Ongoing Monetary Policy Support

The Federal Reserve wants financial conditions to remain accommodative as it looks to support the U.S. recovery.

Commentary

Worried About Retirement? PIMCO’s Plan to Help Retirement Savings Last a Lifetime

PIMCO’s CEO and its head of retirement outline the firm’s approach to generating retirement income.

Commentary

Europe’s Labor Measures: Short-term Gain, Long-term Pain?

European measures applied to mitigate the effects of the pandemic have contained the unemployment rate in Europe more than in the U.S. While recognizing economic risks from the rising number of COVID-19 cases in the U.S., our forecast sees this success ratio reversing before the end of the year.

Commentary

The Imprint of Monetary Policy on Munis

Municipal bond investors will need to contend with the impact of monetary policy on market prices.