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Lessons from Quitaly | Bond Market Perspectives | June 5, 2018

KEY TAKEAWAYS Market reaction to Italy’s political woes was swift and pronounced, but ultimately overdone. Nonetheless, it highlighted key differences in investor perceptions of European countries’ risks. The Italy episode also exemplified the value of high-quality...

The Impact of 3% | Bond Market Perspectives | May 15, 2018

KEY TAKEAWAYS The 10-year Treasury yield recently crossed the psychologically important 3% level for the first time since December 2013. For investors, this means that Treasuries are more attractive than they have been in some time, though rates are still low relative...

Yield Curve Subplot | Bond Market Perspectives | April 24, 2018

KEY TAKEAWAYS Context is important for yield curve conversations because not all types of yield curve flattening are the same. A flattening yield curve with rising rates (a bear flattener) is more indicative of a continued economic expansion than if yields were...

Keeping It Real | Bond Market Perspectives | April 17, 2018

KEY TAKEAWAYS Real (inflation-adjusted) yields can be important barometers of the state of monetary conditions. The meaningful rise in real yields in early 2018 may have contributed to equity market weakness. However, the subsequent modest decline of real yields may...