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Alpha Engine Perspectives
Let’s Get Technical: The Story Behind the Loan Market Swoon
January 7, 2019•2 min read

Let’s Get Technical: The Story Behind the Loan Market Swoon

Wary investor sentiment, seasonal trading activity in loans, and a big institutional seller have combined to drive down loan prices[…]

Full Discretion
Uncategorized
US Fed Ends Quantitative Easing: 5 Insights from the FOMC Statement
December 27, 2018•2 min read

Year in Review: Our Most Popular Posts of 2018

To wrap up 2018, we took a look back at the year’s most popular blog posts. Not surprisingly, they reflect[…]
Alpha Engine Perspectives
Can't Build Them? Join Them: Rising Home Prices & Lack of Construction
July 19, 2018•4 min read

Can’t Build Them? Join Them: Rising Home Prices & Lack of Construction

There’s a tug of war brewing between housing costs and consumer budgets in the US. Single-family home prices have risen[…]

Structured Finance
Alpha Engine Perspectives
Nothing to See Here: Rising 10-Year Treasury Yields in Context
June 13, 2018•2 min read

Nothing to See Here: Rising 10-Year Treasury Yields in Context

While the recent backup in 10-year Treasury yields may look stark on short-term charts (namely 1-year and 2-year charts), the[…]

Relative Return
Alpha Engine Perspectives
Is Foreign Demand for US Corporate Bonds at an Inflection Point?
May 22, 2018•3 min read

Is Foreign Demand for US Corporate Bonds at an Inflection Point?

The US corporate bond market reached a record $8 trillion at the end of 2017. The high followed a wave[…]

Custom Income Strategies
Alpha Engine Perspectives
Three Strategies to Prepare for Rising Volatility
April 27, 2018•3 min read

Three Strategies to Prepare for Rising Volatility

We all knew volatility couldn’t stay low forever, even with solid global growth and low inflation. Rising volatility is common[…]

Alpha Strategies
Alpha Engine Perspectives
China’s Bond Markets – Two Reasons Why the Year of the Dog Might Have Some Bite
February 16, 2018•3 min read

China’s Bond Markets – Two Reasons Why the Year of the Dog Might Have Some Bite

The Year of the Dog may not be known for being the most auspicious, but for China’s local, renminbi-denominated bond[…]

Global Fixed Income
Alpha Engine Perspectives
How the Spike in Volatility Punctured the "Short Vol" Trade
February 9, 2018•6 min read

How the Spike in Volatility Punctured the “Short Vol” Trade

For most investors, it’s pretty unsettling to hear that the market’s “fear gauge” is suddenly on a tear. But that’s[…]

Full Discretion
Alpha Engine Perspectives
Don’t Cry for the Argentine Peso
October 27, 2017•2 min read

Don’t Cry for the Argentine Peso

The Argentine peso has depreciated by more than 40% since 2015, but I believe it is due for stabilization and[…]

Full Discretion
Alpha Engine Perspectives
Avoid Being “Burned” by Bank Loans
August 18, 2017•3 min read

Avoid Being “Burned” by Bank Loans

When talking with potential investors, a refrain we often hear is “I was burned by bank loans before, and now[…]

Full Discretion
Research Insights
Oil Price Volatility: Are We Out of the Woods Yet?
August 11, 2017•3 min read

Oil Price Volatility: Are We Out of the Woods Yet?

What’s my advice on oil price volatility? Hang in there. The good news—we’ve been through this before. The bad news—we’ve[…]

Credit Research
Uncategorized
Is OPEC Irrelevant?
June 21, 2017•4 min read

Is OPEC Irrelevant?

In late May, OPEC (Organization of the Petroleum Exporting Countries) and non-OPEC oil producers agreed to extend production cuts through[…]

Credit Research
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