State governments tend to boast strong creditworthiness. They have a multitude of revenue streams,..

Credit Research, Fixed Income, Municipals

With signs of stress in the banking sector, we are starting to see the impact of 500 basis points..

Securitized Research, Fixed Income

Remember Mad Libs, the word game where players slot adjectives, nouns and verbs into a paragraph?..

Fixed Income, The Fed, Central Banks

It’s been—to put it mildly—an interesting week in the US Treasury market. The front end of the..

Fixed Income, Infographic, Trade

The European Central Bank (ECB) has started unwinding its largest quantitative policy measure on..

Macro Strategies, Sovereign Research

One year after Russia’s invasion of Ukraine, we fear the prospects of peace remain remote and that..

Macro Strategies, Sovereign Research, Market Outlook