Investing

How will California’s drought affect water utility revenue bonds?

Ty Schoback, Senior Municipal Analyst | November 5, 2014

 California is in its fourth year of drought, one of the worst in the past century.  Key factors when assessing credit quality of water utilities are water supply and source diversity.  Credit strength of California water utilities hinges on political willingness to raise rates.  Potential impact on California-specific and national muni bond funds. California is

Should investors be cheering Japan’s new stimulus program?

Daisuke Nomoto, Senior Portfolio Manager | November 3, 2014

Stock markets rose on the announcement that the government of Prime Minister Shinzo Abe was significantly stepping up its policy actions. The other major announcement was that the Government Pension Investment Fund will shift its asset allocation to domestic equities and foreign bonds/equities away from domestic bonds. The near term risk/return profile currently looks very

Ghost of crises past

Jay Leopold, Head, U.S. Investment Risk | October 27, 2014

The market’s extended period of low volatility was shattered in the past month. While it is possible fear-driven selling could resume or accelerate, we do not believe this is the most likely outcome. Given the U.S. economy’s reasonably good fundamentals, we believe that patient investors will get more treats than tricks in the future. As