Loomis Sayles' Macro Strategies team shares their latest views on the credit cycle and key drivers they're watching.
We believe the municipal bond market is on the brink of major changes. The Biden administration has proposed legislation that, if passed, could meaningfully increase both taxable and tax-exempt supply in the municipal bond market. While this potential shift could cause some short-term disruption, we believe it could result in more balanced supply and demand over the medium term.
Senior Macro Strategies Research Analyst Craig Burelle shares a visual snapshot of our GDP growth expectations around the globe.
Metal and mining companies face some risk of being saddled with stranded assets, but the story for these companies is complex and nuanced.
On 6 May, Scotland will hold parliamentary elections that could ramp up the push for a Scottish independence referendum. We believe this event and the prospect of another independence referendum could introduce market volatility.
Loomis Sayles credit research analysts look at President Biden's American Jobs Plan and discuss the components that might affect the power sector.
The consumer asset-backed securities sector is often under heightened scrutiny.
As the global recovery kicks into gear, there are signs of shortages and delays causing pricing pressure. It appears that aggregate demand may be rebounding faster than aggregate supply.
We have witnessed central banks implement, reduce and exit quantitative easing (QE) programs to influence interest rates.
Cruiseline operators may finally get the green light to start sailing out of US ports on a limited basis.
Uneven COVID-19 vaccination rates around the globe have led to diverging growth expectations for individual economies.
We believe risk assets have further to run as the credit cycle continues to move forward.
New bond issuance exploded to record highs in 2020. What will 2021 supply look like?
We are witnessing countries using yield curve control policies—despite many unknown factors and potential repercussions.
Real rates in the United States have moved sharply higher since the beginning of 2021.
We are entering a period when data may be on a wild ride. Brian Horrigan shares why he thinks market participants shouldn’t panic over big moves in upcoming data.
Rising yields and a steeper yield curve are par for the course as an economy enters the recovery phase of the global credit cycle.
im Grabovac looks at the recent muni market selloff and why he thinks it was a valuation correction rather than a market response to actual selling.
About a week ago, an unprecedented polar vortex descended upon the southwestern United States. The deep cold forced power plants in Texas to take production offline, leading to rolling blackouts and leaving more than four million households without power.
Congressional leaders are aiming to pass a $1.9 trillion fiscal stimulus package by mid-March. This approach is not without risks.
Is global GDP growth poised for a potential boom once social distancing measures ease? Read on for a visual snapshot of our GDP growth expectations around the globe.
Engaging on ESG issues across our portfolios is part of our commitment to providing superior investment returns.
Collateralized loan obligations are the largest source of demand in the loan market. Cheryl Stober breaks down some key drivers of CLO manager behavior.
Senior Credit Research Analyst Ryan McGrail explains why he believes President Biden's early orders will have a limited near-term impact on oil producers and production.
The Mortgage and Structured Finance Sector Team discusses key themes in the securitized market in 2021.
The Loomis Sayles Municipal Sector Team discusses key themes that may impact the municipal market in 2021.
The Loomis Sayles Investment Grade Sector Team answers three questions on their outlook for 2021.
John Bell shares his thoughts on yields, defaults and the role of CLOs in the loan market in 2021.
Loomis Sayles' Global Credit Sector Team shares their outlook on key themes in the euro credit space.
The Loomis Sayles Emerging Markets Debt Sector Team shares their views on corporate spreads, foreign exchange and leverage in 2021.
Ashish Chugh discusses his outlook on EM equities in 2021.
A look at what a 50-50 split in the Senate could mean for President-elect Biden’s policy proposals and nominees for courts, agencies and his cabinet.
We believe key ingredients are in place for global financial markets to continue discounting the recovery phase of the credit cycle.
Loomis Sayles' high yield sector team discusses downgrades, defaults and value in the high yield market in 2021.
Editor’s Note: We’re changing things up. Every year, Loomis Sayles features outlooks from our sector teams — teams composed of traders, analysts, strategists and portfolio managers immersed in their respective sectors of the market. This year, we’re tailoring our outlooks to focus on what’s top-of-mind for many investors.
Insurers generally take a narrow approach to investing in the securitized sector, usually through allocations in their investment grade fixed income reserve portfolios.
Systematic Investing Strategies Portfolio Manager Harish Sundaresh and Product Manager Roger Ackerman take a look in the rearview mirror at how risk mitigation strategies fared during the election period.
A K-shaped recovery is an uneven one in which some industries and some groups get left behind. That is what we will be watching for in the months ahead.
Many market participants expect major economies to follow a path to recovery similar to China’s, but we see three key factors that suggest China’s recovery may be on its own trajectory.
We have consistently observed that the market is inefficient at pricing specific risk. Loomis Sayles' full discretion investment style follows two core philosophies to help capitalize on this persistent inefficiency in corporate credit and drive excess return potential.
Zhi Wei Feng discusses why we believe the market reaction to recent onshore debt defaults in China was based on market fears instead of a real surge in credit events.
While we expect global growth to slow in the fourth quarter as many countries try to contain another wave of COVID-19, we have upgraded our 2020 GDP growth forecasts for the US and China.
Banks have begun to voluntarily disclose their exposure to climate change risks. The information is critical to bank management teams and investors, both of whom need to understand the challenges ahead.
With transformational change likely off the table, healthcare and pharmaceutical companies should be well-positioned to weather the next presidential term.
Municipal bond defaults have been rising, but investor demand remains robust. This incongruence may suggest the municipal market is behaving irrationally, but we don't think that's the case.
Almost nothing has felt certain in 2020. The presidential and congressional election results are two more things to add to the list. Markets had largely expected a blue wave, which has not materialized.
Coming into the home stretch of 2020, continued concerns about COVID-19 and the political environment persist and have been feeding risk-averse sentiment for many investors. Given the year the world has experienced, it’s not surprising people are focusing on portfolio risk mitigation.
There appears to be an increased willingness to engage in deficit spending on both sides of the aisle in Washington, DC. This could lead to a more “middle of the road” outlook for fiscal decision making.
Loomis Sayles credit analysts look at clean energy investment opportunities through a different lens. Here, they discuss what a Biden administration could mean for the power sector.
We’ve gone without a lot of things in 2020. Surprises aren’t one of them. After ten months of twists and turns, most of us are ready for a nice long stretch of the mundane. But this has been a strange year, and neither the year nor, I fear, the strangeness is over.