Press Coverage

Original article by Michael Haley Lyniese Patterson, Portfolio Manager at Income Research + Management, shared her thoughts on the recent shift in the U.S. high-yield market. Lyniese believes there is a more positive environment for issuers to come to market and that investors want deals to come, creating a more optimistic outlook. Read full article here ...

Original article by Caleb Mutua Matt Walker, Senior Portfolio Manager at Income Research + Management, participated in a Q&A to discuss his outlook for the credit market throughout the remainder of 2022. He sees opportunity, despite the challenges bond holders face in getting adequate compensation for the risks associated with investing amidst rate hikes. Read ...

Original article by Michael Haley Ginny Schiappa and Lyniese Patterson, Portfolio Managers at Income Research + Management, shared their H2 outlook on the high yield bond market given the slow start to the year. Despite the decline in issuance, both remain cautiously optimistic as to how the rest of the year may play out Read ...

Original article by Joy Wiltermuth Jake Remley, Senior Portfolio Manager at Income Research + Management, weighed in on the debate around the largest current worry for investors – a growth scare for investors, or high inflation. Jake noted that earnings expectations have dropped again, but that bad news could take some pressure off the Fed. ...

Original article by Christine Albano Wesly Pate, Senior Portfolio Manager at Income Research + Management, shared his thoughts on market dynamics concerning municipal investors. Wesly noted that pockets of opportunity are present in municipals, and relative to other investment-grade asset classes, duration is well compensated for in the municipal market. Since he expects ratios to ...

Original article by Michael Haley Jake Remley, Senior Portfolio Manager at Income Research + Management, shared his thoughts on inflation trends and household cash balances. Jake noted that while pandemic monetary stimulus has helped household cash balances to remain strong, the cash cushion is starting to erode. Read full article here (paywall).

Original article by Michael Haley  Ginny Schiappa, Portfolio Manager at Income Research + Management, shared her thoughts on current dynamics in high yield issuance. Ginny believes that opportunistic issuers have become more selective regarding when they bring a deal to market, given recent economic turbulence. Read full article here (paywall).

Original article by Joe Morris Joe Morris, News Analyst at FundFire, published a piece about IR+M’s upcoming move to Boston’s Winthrop Center in 2023. IR+M Chief of Staff, Sarah Kilpatrick, shared her thoughts about how the move accommodates the firm’s hybrid-work arrangements and paves the way for a more collaborative future of work. Bill O’Malley, ...

Original article by Dervedia Thomas Allison Walsh, Head of ESG and Corporate Sustainability at Income Research + Management, shared her insights on new ESG proposals put forth by the Securities and Exchange Commission (SEC). Allison noted that the proposed disclosures seem consistent with the regulations coming out of Europe, and emphasized the importance of transparency in ...

Original article by Ryan Dezember and Matt Grossman Kristoff Nelson, Director of Credit Research at Income Research + Management, shared his insights on current dynamics in the domestic production of oil and gas with The Wall Street Journal. Kristoff suggests that the past practice of producers burning through cash to maximize output is no longer ...

Original article by Catherine Carlock Sarah Kilpatrick, Chief of Staff at Income Research + Management, spoke with The Boston Globe to discuss the future of the firm’s hybrid work model following the announcement that IR+M’s headquarters will be moving to Boston’s Winthrop Center in 2023. Sarah shared that the new office will emphasize a flexible style ...

Original article by Michael Mackenzie Jake Remley, Senior Portfolio Manager at Income Research + Management, shared his thoughts on the May FOMC meeting with Bloomberg, following markets’ dovish reactions to the most recent 50 basis point rate hike. He believes that Chairman Powell’s pushback in Wednesday’s meeting serves as a small sign of certainty for ...

Original article by Jessica Lerner and Gary Siegel Scott Pike, Senior Portfolio Manager at Income Research + Management, shared his thoughts on the May FOMC meeting and its potential impact on reducing rampant inflation with The Bond Buyer. Scott suggested that the FOMC’s move- to raise the Fed funds target 50 basis points and begin ...

Original article by Amanda Albright Wesly Pate, Senior Portfolio Manager at Income Research + Management, shared his insights on the current state of the municipal bond market amidst a gain in bargaining power for buyers with Bloomberg. Despite pessimism amongst some muni investors, Wesly is of the belief that the market is returning to healthy behavior ...

Original article by Gary Siegel, Jessica Lerner, and Lynne Funk Jake Remley, Senior Portfolio Manager at Income Research + Management, shared his thoughts on the May FOMC meeting and the first-quarter GDP reading with The Bond Buyer. Jake suggested that since growth is likely to come in around 1%, stagflation risks will not be taken lightly ...

Insurance AUM - Podcast: "Rising Rates Pushing Investors Back to Core Bonds"

div>Original article by Liz McCormick Jake Remley, Senior Portfolio Manager at Income Research + Management, shared his insights on the current state of the yield curve and the likelihood of an inversion given the recent bond market volatility. Jake spoke to the stress is liquidity Treasuries are experiencing. He is of the belief that QT ...

Original article by Paul LaMonica Scott Pike, Senior Portfolio Manager at Income Research + Management, shared his views on the impacts of Russia’s invasion of Ukraine on investment portfolios with CNN. On the back of a positive February jobs report, Scott explained how the geopolitical landscape is actually the more important catalyst for investors to ...

Original article by Gary Siegel, Jessica Lerner, and Lynne Funk Jake Remley, Senior Portfolio Manager at Income Research + Management, shared his views on the impacts of Russia’s invasion of Ukraine on Fed hikes and inflation outlooks with The Bond Buyer. Jake explained how the geopolitical landscape will test the Fed’s prior categorization of transitory ...

Original article by Joy Wiltermuth Jake Remley, Senior Portfolio Manager at Income Research + Management, shared his views on the impacts of Russia’s invasion of Ukraine on U.S. investors, who are largely focused on the cost of food and energy in America, with MarketWatch. Jake explained how and why he feels the Federal Reserve will ...

Original article by Richard Leong Mike Sheldon, Senior Portfolio Manager at Income Research + Management, shared his views on the RMBS market with International Financing Review. Mike noted that mortgage rates have risen in step with rising bond yields stemming from concerns about four-decade high inflation and the Federal Reserve’s plan to stop buying mortgage ...

Original article by Theresa Roy Theresa Roy, Investment Product Specialist at Income Research + Management, shared her analysis and views on the health of pension plans at the end of 2021 and how they can position their portfolios to succeed in 2022 in an op-ed for BenefitsPRO. She explores how the American Rescue Plan Act, ...

Original article by Anastasia Bergeron Wesly Pate, Portfolio Manager at Income Research + Management, spoke with Reorg about his outlook for municipal bonds in 2022. Wesly feels that the market could see a longer outflow cycle in 2022, as munis started the year below their long-term relative value averages. He also shared that he expects ...

Original article by Jennifer Kang Mike Sheldon, Senior Portfolio Manager at Income Research + Management, shared his outlook for the ABS market in 2022 with GlobalCapital. Mike analyzed headwinds and tailwinds for whole business ABS securities this year, as well as non-traditional asset class performance in 2021. IR+M saw strong performance in tier-one franchise names ...

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for Yahoo! Finance on the implications of the Federal Reserve’s hawkish turn at the December FOMC for bond markets in early 2022.

Wesly Pate, portfolio manager at Income Research + Management, provided insights in an article for Bloomberg on the growing decorrelation between municipal bonds and Treasuries since the COVID-19 pandemic took hold.

Original article by Sebastian Pellejero Lyniese Patterson, Portfolio Manager at Income Research + Management, spoke with The Wall Street Journal about where IR+M sees value in the high-yield debt market. Lyniese shared, that given the strong economic backdrop in 4Q2021, the firm’s high-yield team has shifted holdings into lower-rated debt. Lyniese also explained why she ...

Original article by Lynne Funk and Gary Siegel Jake Remley, Senior Portfolio Manager at Income Research + Management, shared his views on President Biden’s renomination of Jerome Powell as chairman of the Federal Reserve. Jake argued that, the given the market’s perception of Powell as less dovish than Lael Brainard, the notion of more rate ...

Original article by Lynne Funk and Gary Siegel Jake Remley, Senior Portfolio Manager at Income Research + Management, shared his thoughts with The Bond Buyer about the bond market’s reaction to the release of the October PPI Index. Jake said that the rally in bond yields suggests the market may have priced in even worse ...

Original article by Matt Wirz Kristoff Nelson, Co-Director of Credit Research at Income Research + Management, spoke about the challenges and opportunities in evaluating green bonds with The Wall Street Journal. For instance, Kristoff described how IR+M passed on investing in a sustainability bond from a power company given concerns around greenwashing. He also noted ...

Original article by Richard Leong Jake Remley, Senior Portfolio Manager at Income Research + Management, shared his views on the current state of the CMBS market for International Finance Review. Jake suggested that tourism and leisure travel seem to be coming back, analyzing hotel financing and the CMBS market since the pandemic began. Read full ...

Original article by Paul La Monica Scott Pike, Senior Portfolio Manager at Income Research + Management, shared his thoughts on the upcoming Federal Reserve Chair nomination and what the outcomes could mean for investors with CNN Business. Scott suggested that Jerome Powell is likely to be renominated, and is the current frontrunner, despite pushback form ...

Original article by Rebecca Morre Insights from Income Research + Management’s Funded Status Monitor were featured in a PLANSPONSOR article about the health of defined benefit plans in September. IR+M’s report illustrated how funded status waivered in September on the back of policymaking concerns, such as those around the Federal Reserve’s inflation expectations. The article ...

Original article by Joy Wiltermuth Isha Chanana, Senior Research Analyst at Income Research + Management, shared her views on the market’s move to SOFR with MarketWatch. Isha noted that while there has been an increase of swap trading volumes in SOFR as LIBOR nears discontinuation, there is also limited SOFR futures volumes. Isha also spoke ...

Wesly Pate, portfolio manager at Income Research + Management, provided insights in an article for The Bond Buyer on current trends in the buy-side municipal market.

Original article by Adam Tempkin Income Research + Management Senior Portfolio Manager Jake Remley shared his outlook on the commercial mortgage bond market for the rest of 2021 with Bloomberg. Jake suggested Class A office space was a strong investing play at this stage of the Covid-19 pandemic, noting that this area of the market ...

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for Bond Buyer on the potential reappointment of Jerome Powell as Federal Reserve chairman.

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for MarketWatch on Federal Chairman Jerome Powell’s speech at Jackson Hole.

Wesly Pate, portfolio manager at Income Research + Management, provided insights in an article for Reorg on the impacts a federal infrastructure reform package and other policymaking decisions may have on the municipal bond market.

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for Bond Buyer on the Jackson Hole Economic Policy Symposium.

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for IFR on aircraft ABS securitizations and global travel recovery.

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for Reuters on when the Federal Reserve might provide further details on when and how it would taper its Covid-19 crisis bond purchases.

Ginny Schiappa, portfolio manager at Income Research + Management, provided insights in an article for IFR on high-yield deals in the primary market.

Sue Synodis, the Chief Human Capital Officer and Co-Chair of the Office of DEI at Income Research + Management, provided insights in an article for FundFire on how the firm’s LGBTQ+ allyship and Pride Month celebrations have evolved over time.

Sarah Spencer, business management analyst at Income Research + Management, was featured in a video produced by FundFire about asset management executives’ home office arrangements.

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for Bloomberg on the health of the mortgage bond market at this stage of the Covid-19 pandemic.

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for The Real Deal on the state of the Federal Reserve’s mortgage bond-buying program, instituted in the early stages of the Covid-19 pandemic.

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for Bloomberg on the Federal Reserve’s role in the housing market.

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for Reuters on U.S. Treasury yields and Fed tapering.

FundFire shared news of Income Research + Management hiring Ken Johnson as senior client portfolio manager and Philip Machoka as client portfolio manager.

Financial Investment News reported on Income Research + Management hiring Ken Johnson as senior client portfolio manager and Philip Machoka as client portfolio manager.

Jake Remley, senior portfolio manager at Income Research + Management, provided his stance on inflation in an article for Bloomberg.

Caroline Chen, senior vice president at Income Research + Management, provided insights in an article for Bloomberg on the growingly competitive housing market.

Jake Remley, senior portfolio manager at Income Research + Management, shared his ideas in an original article for Pensions & Investments on inflation trends and potential impacts on the bond market.

Caroline Chen, senior vice president at Income Research + Management, provided insights in an article for GlobalCapital on the Diamond Resorts and the ABS market.

Caroline Chen, senior vice president at Income Research + Management, provided insights in an article for MarketWatch on non-QM loans and the current housing market.

Jake Remley, senior portfolio manager at Income Research + Management, provided insights in an article for Bond Buyer on the impact of rising inflation on municipal bonds.

Jake Remley, senior portfolio manager at Income Research + Management, provided insight in an article for Reuters on rising bond yields and use of fixed coupons.

Allison Walsh, head of ESG and corporate sustainability at Income Research + Management, expressed her opinions on the future of sustainable investing in an op-ed for Environmental Finance.

Caroline Chen, senior vice president at Income Research + Management, provided insights in an article for GlobalCapital on the railcar securitization market.

Caroline Chen, senior vice president at Income Research + Management, provided insights to GlobalCapital on the franchise ABS sector.

Caroline Chen, senior vice president at Income Research + Management, provided insights in an article for GlobalCapital on the recovery of franchise ABS trading.

Caroline Chen, senior vice president at Income Research + Management, spoke with Jennifer Kang at GlobalCapital about the recent flurry of ABS market activity.

Jake Remley, senior portfolio manager at Income Research + Management, offered his outlook on inflation to Reuters in the wake of a recent strong auction of 10-year TIPS.

Caroline Chen, senior vice president at Income Research + Management, spoke with Richard Leong at IFR about how US residential mortgage-backed issuers were working to bring supply to the market before the end of 2020.

Bill O'Malley, Chief Executive Officer and Co-Chief Investment Officer of Income Research, spoke with Danielle Correa at FIN News about how employees are adapting firm traditions for the winter holidays during the Covid-19 pandemic.

Bill O'Malley, Chief Executive Officer and Co-Chief Investment Officer of Income Research, spoke with Dervedia Thomas at FundFire about how the firm is making sure that employees stay connected and avoid isolation fatigue as the Covid-19 pandemic continues.

Caroline Chen, senior vice president at Income Research, spoke with Al Yoon and Eric Homer at Debtwire about her views on the single family rental bond market rally.

Bill O'Neill, Senior Portfolio Manager at Income Research, spoke with Joy Wiltermuth at MarketWatch about why investment-grade corporate bonds surged as Americans waited for U.S. 2020 election results over the course of a week.

Wesly Pate, Senior Portfolio Manager at Income Research, spoke with Debbie Carlson at US News and World Report about why investors should buy municipal bonds issued outside of their home states.

Jake Remley, Senior Portfolio Manager at Income Research, spoke with Richard Leong at IFR about tech-related ABS issuance.

Brooke Anderson, Principal and Director of Investment Product Management at Income Research, shared how the firm uses social media to connect with institutional investors in the midst of a pandemic that has kept many people working at home with FundFire.

Caroline Chen, Senior Vice President at Income Research, spoke with Al Yoon at Debtwire Municipals about non-QM loans.

Allison Walsh, Senior Vice President at Income Research, was promoted to the newly created role of head of ESG and corporate sustainability by fixed-income specialist Income Research & Management on Sept. 1.

Wesly Pate, Senior Portfolio Manager at Income Research, spoke with Caitlin Devitt and Kathie O’Donnell at Debtwire Municipals about his fall 2020 forecast for the municipal bond market as fundamentals began to weaken in early September.

Caroline Chen, Senior Vice President at Income Research, spoke with Richard Leong at International Financing Review about how and why many investors are piling into bonds backed by container leases.

Caroline Chen, Senior Vice President at Income Research, spoke with Brad Finkelstein at National Mortgage News about why investors should remain leery of non-QM RMBS even as originators are coming back into the marketplace.

Wesly Pate, Senior portfolio manager at Income Research, spoke with Andrew Coen at Bond Buyer about municipal bond issuance for the first half of 2020.

Caroline Chen, Senior Vice President at Income Research, spoke with Adam Tempkin at Bloomberg about why fixed income investors should remain cautious about their allocations towards mortgage bonds without U.S. government guarantees.

Jake Remley, Senior Portfolio Manager at Income Research, chatted with Joy Wiltermuth about the impact of the Fed’s stimulus on credit markets.

Jake Remley, Senior Portfolio Manager at Income Research, spoke with Richard Leong at IFR about the slow return of demand for lower-rated U.S. asset-backed securities since the primary market reopened last March after a COVID-19 induced supply pause.

Bill O’Neill, Senior Portfolio Manager at Income Research, spoke with Caleb Mutua and Jack Pitcher at Bloomberg Briefs about the record-pace borrowing taking place in the bond market.

Wesly Pate, Senior Portfolio Manager at Income Research, spoke with Danielle Moran at Bloomberg about the California sale of $1.4 billion in general obligation bonds.

Wesly Pate, Portfolio Manager at Income Research, spoke with Aaron Weitzman at The Bond Buyer about municipal bond volumes in March.

Caroline Chen, SVP at Income Research, spoke with Al Yoon at Debtwire about bond funds and REITs facing market liquidity challenges.

Caroline Chen, Senior Vice President at Income Research, spoke with Al Yoon at Debtwire about the US “fix-and-flip” sector.

Ralph Saturne, Senior Research Analyst at Income Research, was quoted in Refinitiv on issuance across securitized sectors. As the article notes, primary issuance is on pause as investors wait to see the outcomes of Federal Reserve monetary policy and fiscal packages.

Jake Remley, Senior Portfolio Manager, astutely pointed out, once the Federal Reserve cuts rates to zero, it will start to consider other fiscal and monetary measures, or potentially venture into negative rates.

Bill O’Neill, Senior Portfolio Manager at Income Research, was quoted in Bloomberg providing his take on investment-grade debt.

Jim Gubitosi, co-Chief Investment Officer at Income Research, was quoted in MarketWatch following U.S. President Donald Trump’s national emergency declaration over coronavirus.

Caroline Chen, Senior Portfolio Manager at Income Research, was quoted in industry publication Debtwire on the risks mortgage markets face as the health crisis affects employment.

As Jake Remley, Senior Portfolio Manager, astutely pointed out, once the Federal Reserve cuts rates to zero, it will start to consider other fiscal and monetary measures, or potentially venture into negative rates.

Ralph Saturne, Senior Research Analyst at Income Research, was named one of the rising stars of 2020 by the one of the UK’s leading investment publications, Investment Week.

Caroline Chen, Senior Vice President at Income Research, was quoted in industry publication Debtwire on issuance in wholesale ABS.

At the time, Wesly Pate noted that “fundamentals look appealing and technicals are still strong.” He did not foresee any issues with such high levels of supply being absorbed by the market. Assuming rates stayed low, which they have done, he foresaw the potential for up to $100 billion in taxable issuance.

Jim Gubitosi, co-CIO, spoke with Caleb Matua at Bloomberg, providing his take on the corporate bond markets.

Bill O’Neill, Senior Portfolio Manager at Income Research was featured in Investment & Pensions Europe’s feature on US Investment Grade. As Bill anticipated at the time, liquidity is the wildcard.

Bill O’Neill, Senior Portfolio Manager, discusses how demand from pension plans and foreign buyers is keeping spreads tight, and what could cause spreads to widen in 2020.

Investors need to focus on strong fundamentals and underwriting standards in 2020, according to Senior Vice President and Research Analyst Caroline Chen.

"This year's winners stand out for their commitment to their people and the communities in which they operate," explained P&I Editor Amy B. Resnick. 

Among other commitments to charity, IR+ M was recognized for offering paid time off for volunteer work, providing company grants for chosen non-profit organizations, and matching charitable donations.

According to Senior Portfolio Manager Jake Remley, the introduction of UMBS "hasn't had much impact directly on the market."

In adopting executive titles, the two Managing Principals hope to provide transparency to the firm’s clients and consultants – and beyond that, open the door for a broader executive base.

Bill O'Malley, a 25-year veteran of the Boston-based fixed-income manager, will become the firm's first CEO effective January 1st, 2020.

By expanding its senior team and clarifying the role of executives, privately-held Boston-based Income Research and Management is publicly demonstrating its commitment to transparency.

"With names where you have a lot of demonstrated history and equity in the business, you're seeing investors getting comfortable with higher leverage," said Senior Portfolio Manager Jake Remley.

“When you’re talking about forbearance and forgiveness, when you’re talking about extending maturities on loan terms, those are a lot of risks that investors can’t get their hands around,” said Principal and Senior Portfolio Manager Mike Sheldon.

According to Senior Portfolio Manager Jake Remley, investors’ search for yield has allowed the sector to price a high number of deals from new entrants and a variety of collateral types, even if the collateral is weak or untested.

“With marketplace lending, we just don’t understand where debt payments might fall in the priority of the borrower,” said Senior Portfolio Jake Remley.

According to Senior Portfolio Manager Jake Remley, "If this recent spate of volatility across equity and other risk assets fade, you may certainly see Pet Supplies Plus come back."

Portfolio Manager Wesly Pate said as a new fiscal year begins, the lack of increased issuance in June is a good tell for what the market will see in the second half of the year.

According to Senior Portfolio Manager Jake Remley, a decline in Treasury rates means that pricing levels remain tight on an absolute basis.

"NINJA ("no income, no job, no assets") loans are not coming back any time soon," states Senior Portfolio Manager Jake Remley.

Pricing on private-label prime jumbo RMBS issuance deals is getting tighter relative to jumbo bonds, according to Senior Portfolio Manager Jake Remley.

“If there’s any space in securitization that has defined tiering, it’s in whole business ABS,” said Senior Portfolio Manager Jake Remley.