Fixed Income

Tri-state pension reforms result in improvements

Matt Stephan, Analyst, Tax-Exempt Fixed-Income Research | April 11, 2014

The New York, New Jersey and Connecticut tri-state region is dependent upon New York City. The strength of state pension systems varies. Improvements are being implemented. The New York-New Jersey-Connecticut tri-state region is, in large part, economically rooted in New York City — access to diverse, high-paying jobs throughout the metro area drives state property

U.S. rates — View update

Zach Pandl, Portfolio Manager and Strategist | April 4, 2014

Compared to the market consensus, our views have been more negative on three key duration fundamentals. Following recent remarks by Fed Chair Janet Yellen, we are now less confident about how to read Yellen’s policy strategy. We are still expecting higher rates; however, we now have less conviction that 3-5yr Treasuries will continue to underperform on

The taxman cometh

James Dearborn, Head of Municipal Bonds | March 13, 2014

New and higher taxes will increase what many owe Muni bonds can help mitigate your tax bill Muni yields are attractive vs. many other investment options With tax season fully upon us, many Americans are about to realize the harsh realities of the new tax environment that came into effect January 2013 with the passage