The Take
on what the market gives us…

ESG Lessons from 2020 as we move into 2021
By: Ed Ingalls — January 8, 2021

Many asset owners are taking the lessons learned in 2020 and looking forward to a more sustainable and inclusive 2021 and beyond.
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Convexity and the Holiday Sweater that Just Doesn’t Fit
By: Wesly Pate — January 6, 2021

Convexity matters, but only if it can be monetized. In some single-asset class strategies, convexity may only materialize during periods of illiquidity, which fails to deliver the desired results.
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Clipping Coupons
By: Ed Ingalls — December 16, 2020

Technology has materially changed investors’ access to information – we feel the key is to parse through the noise and focus on the strength of your security selection capabilities.
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Siri, What is Zero Divided by Zero?
By: Wesly Pate — December 9, 2020

As rates have declined to generational lows, binomial pricing models may be compromised and bond/option valuations may require a more mosaic approach
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Paddle to The Sea of Income and Liquidity
By: Jake Remley — December 2, 2020

Although yields have declined to generational lows, high-grade bonds still offer valuable income and liquidity. But how do bond investors get comfortable with the possibility of negative returns from rising interest rates? Absent a crystal ball, we offer key considerations for assessing investment-grade fixed income risk/return in a world of low yields.
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Finding Gems in the Dark
By: Wesly Pate — November 12, 2020

2020 has brought us all some uncertain times, but also some unique opportunities. The taxable muni market has continued to evolve and mature in 2020 and continues create new and attractive prospects for the portfolio.
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The Trick or Treat of Bond Convexity
By: Jake Remley — October 28, 2020

2020 has had its share of surprises, including interest rates dropping to near all-time lows. Although rate volatility remains tame for now, convexity is poised to be a larger piece of fixed-income performance at current yield levels. Thus, bond investors should be wary of nuances in this oft-overlooked risk factor.
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Tactical TIPS
By: Bill O'Neill — October 14, 2020

At IR+M, we avoid betting on the future of interest rates or inflation, but we aren’t afraid to take advantage of a market dislocation that presents alpha opportunity.
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The Roll is Like The Slide - The Steeper the Better
By: Wesly Pate — October 7, 2020

Cross asset investing requires cross asset curve analysis. As curve dislocations occur, opportunities are created.
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The Cathedral and The Skyscraper
By: Jake Remley — September 30, 2020

In today’s uncertain environment, true bottom-up bond picking combines old-fashioned fixed income acumen with modern quantitative analysis. The result is a robust set of building materials that can be employed by an active manager to construct dynamic, flexible, and fundamentally sound portfolios.
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