Latest Perspectives

Fixed Income

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In this video, Jeff Knight gives his market outlook for 2015. Knight explains his strategies for participating in market while protecting existing gains by adapting thoughtfully to current market conditions.

Tagged with: Asset Allocation, Equities, Fixed Income

Most states and local governments should benefit from higher tax receipts as more consumer discretionary income leads to a pick-up in spending. Negative effects will be localized around energy producing areas, especially if oil prices stay low for an extended period.

Tagged with: Fixed Income, Muni Perspectives Blog

Global bond markets respond in different ways throughout the business cycle. A flexible strategy can adapt its risk complexion to capture opportunities and mitigate downside.

Tagged with: Fixed Income, Investing

A convenient, comprehensive reference that looks both back and forward to bring today’s economy, markets and investing opportunities sharply into view. The Q1 2015 MarketTrack — featuring more than 40 charts and graphs accompanied by straightforward commentary — is now available.

Tagged with: Asset Allocation, Columbia Funds, Economic/Markets Outlook, Economy, Equities, Fixed Income, Global Economy, Investing, Markets, Uncategorized

Contrary to past experience and conventional wisdom, general obligation bonds are not sacrosanct and very low recovery rates are possible. Pensioners and other politically favored classes are likely to be treated more kindly than bondholders.

Tagged with: Fixed Income, Investing, Muni Perspectives Blog

What are premium, par and discount bonds? Why paying a premium often makes sense.

Tagged with: Fixed Income, Investing

The U.S. Treasury market as a whole has returned +1% annualized since the end of 2012 (and +0.5% annualized since the low in 10-year yields in July 2012). Because of imminent Fed rate hikes and depressed yield levels, prospective returns look no better today.

Tagged with: Economy, Fixed Income, Investing

Last week’s news suggests that the center of the FOMC continues to see interest rate hikes in the middle of next year as most appropriate. December 17 looks like a natural time to begin signaling the possibility of rate hikes to financial markets—an eventuality for which bond investors do not look prepared.

Tagged with: Economy, Fixed Income

By Jennifer Ponce de Leon, Senior Portfolio Manager and Head of High Yield and Mark Van Holland, CFA, Senior Portfolio Manager 

Size of the Energy Sector

Because the energy sector is a large component of the U.S. high yield market relative to some other asset classes, the market has received increased scrutiny due to recent declines in oil prices. Prior to the recent sell off, energy accounted for more than 15% of the high yield market, making it by far the largest industry (healthcare is the second largest at approximately 8.5%).

Tagged with: Fixed Income, Investing

The near-zero interest rate environment has been a support for the financial markets, but as the economy normalizes so will interest rates. While we expect the bull market in equities to continue, returns will likely be far more modest over the next 10 years.

Tagged with: Asset Allocation, Equities, Fixed Income, Investing, Markets
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