The Take
on what the market gives us…
Curves Ahead
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June 30, 2020
In this post, we look at back at the events that have transpired since March, and examine the impact of Treasury/Fed buying and corporate credit fundamentals on the credit curve. Read More
My Tax Haven Is Worth Less, But Certainly Not Worthless
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June 23, 2020
In this post, we will explore some of the ramifications of lower yields on the value of the exemption, why munis tend to lag in a rate rally and outperform as rates climb, potential benefits of munis during periods of market dislocations, and how we are viewing the value of the asset class in today’s environment. Read More
Non-Agency RMBS: Expect Bumps But Not 2008
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June 16, 2020
In this post, we break down the top ten reasons why we think this crisis will be different for non-agency RMBS. Read More