Uneven COVID-19 vaccination rates around the globe have led to diverging growth expectations for..

Macro Strategies, Market Outlook

New bond issuance exploded to record highs in 2020. Amid the crisis of a pandemic, companies were..

Fixed Income

Real rates in the United States have moved sharply higher since the beginning of 2021. The move has..

Macro Strategies, Sovereign Research, Emerging Markets

The market seems sensitive currently to news about inflation and growth. We are entering a period..

Macro Strategies, The Fed, Reflation

Rising yields and a steeper yield curve are par for the course as an economy enters the recovery..

Macro Strategies, Fixed Income, The Fed, Recovery, Reflation

The municipal market sold off significantly over the past two weeks. Now that the market seems to..

Fixed Income, Municipals, Recovery, Reflation