Managing Volatility

    Apr 20, 2017

Push and Pull on Global Currencies

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Concerns over escalating geopolitical tensions, doubts over U.S. fiscal stimulus, and uncertainty over political battles have pushed and pulled on global currencies.

    Apr 12, 2017

Disentangling Cycles from Time

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Deep into the expansion phase of an economic cycle, the classic pattern involves Fed tightening, yield-curve flattening, rising rates, and tightening credit spreads.

    Apr 10, 2017

CEOs, CapEx, and Correlations

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CEO confidence has risen in recent months, and that has typically led to increased capital spending when sustained and coupled with growing profits and a full order book...

    Apr 6, 2017

S&P Rises Despite Health Care Setbacks

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The S&P 500 rose 5.5% in the first quarter and managed to finish less than 2% from its all-time high, despite setbacks in health care legislation. There was a notable absence...

    Apr 6, 2017

High-Yield Positioning

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High-yield spreads over Treasurys have tightened this past year amid a growing economy, improving corporate profits, and a rebound in commodity prices. As a result, default...

    Mar 30, 2017

What Will Drive Stock Prices Higher?

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Since early 2012, quantitative easing had fueled P/E (price-to-earnings) multiple expansion as the primary driver of equity returns. As we enter a new market cycle, we believe...

    Mar 30, 2017

5-Step Framework for Blending Active and Passive

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Today, we’d like to go over a five-step framework for blending active management with high-conviction...

    Mar 23, 2017

Capital Structure Seniority with a Side of Lower Volatility

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Late last year, three-month LIBOR surpassed 1%, making LIBOR floors a thing of the past.