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Tug-of-War: Fed Signals vs. Market Pricing

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As expected, the Fed raised the Fed Funds Rate by 25 bps at its June meeting. Committee projections...

Does High Yield Make Sense in Today’s Environment?

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High-yield bonds began 2017 yielding 6.5% with spreads at what were then at a 27-month low of 476 basis points (bps).1 It’s unclear whether...

A Shift in the OPEC Playbook: 2014 vs. 2017

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Unlike 2014 and 2015, we do not believe crude oil prices are remaining low as a result of OPEC threatening to increase...

Cheaper Isn’t Always Better, but a Prudent Process Is

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While assessing the current state of the defined contribution retirement landscape, there are a number of...

What’s Behind the Strength in Foreign Developed Equities?

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Foreign developed equities, as measured by the MSCI EAFE Index, are off to a strong start in 2017...

Central Banks, Rising Rates, and Inflation Surprises

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Currency-sensitive investors grappled with an onslaught of political events, central bank meetings, and the...

Inflation: Too High, Too Low, or Just Right?

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Citing that the job market “has continued to strengthen,” the Fed raised rates by a quarter of a point on June 14.

The Impact of Passive Investing on Market Efficiency

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Academic studies are beginning to shed light on how passive ETFs are influencing markets. These studies...