Kevin Horan

Director, Fixed Income Indices
S&P Dow Jones Indices
Biography

Kevin Horan is Director, Fixed Income Indices, at S&P Dow Jones Indices (S&P DJI), and is responsible for executing tactical and strategic actions focused on building the commercial success of fixed income indices. In coordination with the client coverage team, Kevin interfaces with clients and prospective clients in order to identify and communicate client-driven needs.

Kevin has almost 30 years of fixed income product knowledge in an indexing, marketing, sales, and trading capacity. Prior to joining S&P Dow Jones Indices, Kevin spent eighteen years at Merrill Lynch, most recently as director of Bank of America Merrill Lynch’s global bond indices. Kevin also worked for Salomon Brothers in its New York General Sales Division.

Kevin holds a master’s degree in finance from Fordham University and a bachelor’s of science degree from The Pennsylvania State University and a Product Management Certificate from the UC Berkeley Center for Executive Education.

Author Archives: Kevin Horan

Leveraged Loans Over High-Yield Bonds

As of July 5, 2018, the S&P/LSTA U.S. Leveraged Loan 100 Index returned 2% YTD, compared with the S&P U.S. High Yield Corporate Bond Index’s return of -0.29%. In 2018, U.S. high-yield performance has experienced two rather sizeable negative returns—back-to-back declines in February (-1.05%) and March (-0.45%)—followed by a turnaround in April (see Exhibit 1). Read more […]

Inflation: Benign for Now

Having broken through 2% in January 2018, the 10-year U.S. Treasury breakeven rate (as measured by the difference between the S&P U.S. Treasury Bond Current 10-Year Index and the S&P U.S. TIPS 10 Year Index) has continued to increase, reaching a YTD high of 2.18% on April 23, 2018. As of May 14, 2018, the Read more […]

Laddered Protection

Continuing the theme of rising interest rates and following up from my last blog, “With all the News of Higher Interest Rates, Don’t Forget About Floating-Rate Debt,” bond laddering is a strategy that provides increased income and the ability to adjust the stream of income in a rising-interest-rate environment. The approach is to invest in Read more […]

With all the News of Higher Interest Rates, Don’t Forget About Floating-Rate Debt

The story line for a number of years now has been the “search for yield” and how the recent low-interest-rate environment has been forcing investors down in credit or out the maturity curve in an effort to maintain income though adding risk. Now that interest rates have begun reversing the low-rate environment, fixed-coupon securities may Read more […]

A Quick Performance Check on U.S. Preferreds

There are only a couple weeks to go until the end of the year, and for a while now, the investing public has seen plenty of material supporting the benefits or risks of diversifying a portfolio through the use of preferred securities. This hybrid type product touts the benefits of high yields, steady income, and Read more […]

Alternative Index Choices for Canada

The ever-changing environment of business has led to significant changes in the index world.  As with any market, consumers or market participants require more options in order to operate in such a fast-paced environment.  For many years, Canadians have relied on a singular index provider to represent their market.  As the pressures of the current Read more […]

U.S. Yield Curve Moved by Europe

The U.S. Treasury yield curve, as represented by the S&P U.S. Treasury Bond Current Indices, ended June 14, 2017, tighter (lower in yield) than the previous day.  The importance of June 14 is that it was the day on which the U.S. Federal Reserve raised the target rate by 25 bps, from 1% to 1.25%.  The following Read more […]

Canadian Update

Canada’s economy has been accelerating due to increased consumer spending and a rebound in business investment.  Consumer spending driven by vehicle purchases and real estate investment has lifted the economy, along with improved business investment.  The economy and its growth trend now appear to be on a more secure path.  As of May 31, 2017, Read more […]

Under Armour Falters, but Consumer Discretionary Stays Positive

The sports apparel and footwear company Under Armour recently experienced a highly publicized loss of stock value, based on a couple of missteps.  The first misstep was falling short of Wall Street’s earning expectations, which caused multiple brokerage firms to downgrade their stock recommendations.  The second was inaccurate forecasting of the company’s revenue; it only Read more […]

S&P U.S. High Quality Preferred Stock Index: A Venn of an Index

Similar to the Venn diagram in which the overlapping section of circles is the focus, the S&P U.S. High Quality Preferred Stock Index is designed to measure preferred securities that are constituents of both the fixed-rate and investment-grade preferred stock indices. Exhibit 1: S&P U.S. Preferred Stock Indices Hierarchy The weight of cumulative preferred stocks Read more […]