Municipals: Location, Location, Location

It turns out that location applies to more than just real estate. Location matters for municipal bond portfolios, too, according to David Dowden, Portfolio Manager at MacKay Municipal Managers (subadvisor of several MainStay Funds). As a new administration moves forward on an economic agenda that includes federal tax cuts, Dowden and his colleagues believe bonds issued in states with

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Feb 23, 2017

Dollar’s Direction: Paths and Policies

After trading lower, the U.S. dollar pared losses ahead of the Federal Reserve Open Market Committee’s (FOMC) January Meeting Minutes. The Japanese yen and the euro traded...

Feb 23, 2017

Playing Defense in High Yield

Almost a decade after the start of the Financial Crisis, the Fed is finally starting to make headway in trying to “normalize” interest rates. There’s a widely held view that...

Feb 22, 2017

Risk Assets Continue Rally

Risk assets continued their rally as Donald J. Trump was sworn in as the 45th President of the United States. Equities in the U.S. and abroad had positive returns.

Feb 16, 2017

Fiscal Stimulus Adds Inflationary Pressures?

The fourth-quarter earnings season shows S&P 500 firms are producing solid mid-single digit earnings-per-share (EPS) growth versus a year ago.

Feb 15, 2017

Convertibles: Sharp Handling of the Trump, Dow 20,000 Turns

Following the November 8 election and a few hours of market upheaval...

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