2018 Municipal Bond Market Insights: Mid-Year Update

We expect taxable municipal issuance could double to ~$60B annually. We believe that low rates, tight credit spreads, and demand for yield should keep taxable municipal yields low. Issuers will likely refinance their higher cost tax-exempt debt with taxable municipal bonds, overcoming the elimination of

Read More
Aug 14, 2018

Climbing the wall of worry: Mid-year optimism

Summer has been heating up the news cycle. Trade headlines dominate; midterm elections are impending...

Aug 13, 2018

Turkey’s currency cooked?

Recent troubles in select emerging and developed countries were exacerbated late last week by a slew of sanctions targeted at Turkey, Iran, and Russia alongside fears of...

Aug 8, 2018

Equity prices are heating up. Is there still room to run?

Last week, value stocks outperformed, relative to growth strategies, and exhibited the strongest positive...

Aug 3, 2018

Goldilocks jobs

The labor market continues to strengthen as unemployment maintains its downward trend. Even with gradual growth in the labor force, the July jobs report reflects what we would...

Jul 31, 2018

The state of commercial real estate

Cap rates tend to decline – become compressed, as they say in the industry – the longer the real estate cycle goes on, as prices for properties are bid up and returns go down...

sign up now to receive our latest blog posts