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First Principles Quarterly -Fall 2018

11.02.2018

compass on rope coil

We are pleased to share the Fall 2018 edition of First Principles Quarterly.

First Principles Quarterly (FPQ) captures our portfolio management team’s insights across fixed income markets.

For the Fall edition, we cover topics including, but not limited to:  the profound transformation of the US Treasury curve over the last two months and where rates go prospectively; tailwinds and headwinds facing the municipal bond market and context within broader markets; disaggregating attributions to recent rate rises; impact of rising rates and discontinued Fed purchases on the MBS market;  the benefits of high conviction, concentrated credit portfolios; prospects for the private student loan market resulting from proposed reforms to federal student loans; and where we expect to find value in coming months.

We invite your comments and questions.

View the First Principles Quarterly - Fall 2018