What We Think

See our perspective on key developments in the US fixed income market and learn more about our investment philosophy, process, and strategies.

The Take
on what the market gives us…

Comparing Liquidity in the Rates Market to Dad's "New" Snowblower
By: Joe Alfano — April 7, 2021

Even in the world’s largest bond market, liquidity can ebb and flow, but what does that actually mean for transacting?
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The Underlying Issue: Credit ETFs Are Tipping Their Pitches
By: Lucas Murray — March 31, 2021

After experiencing the intra-day volatility of the past year, including the flows in recent weeks, Credit ETFs are tipping their pitches, and the awareness of dealers/buy-side traders is enhancing daily price volatility.
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Do Androids Dream of Rising Rates?
By: Jake Remley — March 17, 2021

Rising inflation and the ballooning of government deficits have bond investors concerned about runaway Treasury yields. While investor sentiment regarding interest rates remains weak, several ancillary market signals suggest that the worst-case scenarios are improbable.
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