Basis Points

Many investors have been wondering about recent downgrade trends in the U.S. investment grade space. Kevin Flanagan discusses.

There are many factors that investors consider when looking for forward guidance on global interest rate trends. In this week’s podcast, Kevin Flanagan discusses why the German bund market is one factor investors should keep their eye on over the next few months.

Last Friday marked the first ‘real’ data day for the bond market with the release of the final jobs report for 2019. In this week’s podcast, Kevin Flanagan discusses how the December 2019 jobs report falls right in line with our 2020 outlook for the U.S. economy.

The end of December brings “the turn” to fixed income investors’ minds. “The turn” represents the period around the final business day of the calendar year when banks need to address their cash needs to get through this crucial funding period. Kevin Flanagan discusses how the Fed will handle year-end funding pressures.

After three consecutive rate cuts, the Fed decided to stay on the sidelines at their final gathering for 2019. Kevin Flanagan discusses the results of today’s FOMC meeting and what fixed income investors should expect from 2020.

Should U.S. Treasury yields be this low, given the current investment landscape? In this week’s podcast, Kevin Flanagan discusses why he believes investors should follow the old adage “Don’t fight the tape.”

While generally 2019 thus far has been a year of falling rates, going forward, the path seems less certain for a host of reasons. Kevin Flanagan discusses.

What a difference a month makes in bond-land. Just when investors thought U.S. Treasury yields were on the verge of moving even lower, a rather visible sell-off ensues. What could have caused such a shift in sentiment? Kevin Flanagan discusses.

With yield curves inverting, trade wars heating up, data on manufacturing softening and the ultimate Federal Reserve change in monetary policy resulting in three rate cuts all occurring simultaneously, it was hard not to succumb to recession fears. The good news is that it looks like the worst of the recession fears may have passed. Kevin Flanagan discusses.

As widely expected, the Federal Reserve once again voted to cut rates at its October FOMC meeting, the third time in 2019. The question that now comes to mind is whether the third time’s a charm. Kevin Flanagan discusses.

Without much fanfare, an interesting development has occurred in the bond market thus far in October: The Treasury yield curve ‘un-inverted’. Does this flash the ‘all clear’ signal for the U.S. economy? Kevin Flanagan discusses.

Reports on inflation have essentially been ‘stealth-like’ and garnered little to no attention. Throughout most of 2019, inflation has had no reason to grab the headlines, should investors be concerned about whether the price is right? Kevin Flanagan discusses.

Before the release of last week’s jobs report, investors were inundated with headlines seemingly suggesting that it wasn’t a matter of ‘if’, but ‘when’ would the U.S. economy enter into a recession. However, there are some economic numbers that imply there is no clear and present danger of a contraction. Kevin Flanagan discusses.

In an interesting turn of events, the big news in Fixed Income has not been the recent rate cut. Instead, the dislocations that were witnessed in the funding markets, and attendant Fed responses, seemed to take center stage. Kevin Flanagan discusses.

As was widely expected, the FOMC voted to reduce the Federal Funds target range by another quarter point following its September policy meeting. Kevin Flanagan discusses whether another cut in December is likely.

The 50th anniversary of the original Woodstock has come and gone, but the August jobs report contained a trend not seen since 1969. Kevin Flanagan discusses.

The calendar has now turned to September, and that means another FOMC meeting is on tap with the results slated for announcement on September 18th. Based on “Fedspeak” surrounding the recent Jackson Hole conference, it appears as if there is some division among the policy makers on what the next step will be. Kevin Flanagan discusses.

The rally in the U.S. Treasury market has created a rather interesting investment backdrop. Recent market events have left investors with some important decisions to make in their fixed income portfolios. Kevin Flanagan discusses.

The last two weeks in the “bond land” have been extraordinary. Kevin Flanagan discusses his perspective on the latest inverted yield curve hysteria.

The tumultuous market events to kick off August have served as a not so subtle reminder that volatility appears here to stay. Certainly, the recent trend has been for rates to be on a descending trajectory, but what if headlines or tweets change course? Kevin Flanagan discusses.

What a week last week was! From the Federal Reserve to President Trump’s tweet stating that more tariffs on China are potentially coming to Friday’s jobs report, Kevin Flanagan breaks it all down.

The Fed has done what was widely expected−it cut the federal funds target range by a quarter-point. And while you could say the Fed is back in data-dependent mode, it appears as if monetary policy is still leaning toward another rate cut this year. Kevin Flanagan discusses.

Through the first six months of the year, the global fixed income markets have certainly put in a surprising performance. However, the odds do not seem to favor this type of performance in 2H 2019. Against this backdrop, Kevin Flanagan offers three solutions for investors to consider as we close out 2019.

One overarching question that many investors ask is, Why is the Fed so intent on cutting rates? If judging solely on low unemployment and an impressive June jobs report, many wouldn’t think we should be having a rate-cut discussion. Kevin Flanagan explains why a July rate cut is still likely.

The much better-than-expected June jobs report has the money and bond markets—and probably the Federal Reserve as well—in a dither. Kevin Flanagan analyzes the data to bring you back to a post-July 4 reality!