Tag Archives: S&P National AMT-Free Municipal Bond Index

Sep 22, 2020

Why Reach for Yield When You Can Use a Ladder?

The current low interest rate environment is forcing many investors to reassess their risk tolerances. Typically, fixed income investors have three main options when trying to “reach” for yield: 1. Move down in credit quality (i.e., take on more credit risk); 2. Increase duration (i.e., take on more interest rate risk); or 3. Move to…

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Mar 25, 2020

Federal Reserve Becomes Buyer of Last Resort

In a previous blog, we discussed the U.S. Federal Reserve’s initial responses to the current market volatility and resultant dislocations. In short, dropping rates to 0% and adding over USD 1 trillion to the funding markets did little to abate the severity of the situation. In an effort to prevent a liquidity crisis from turning…

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Oct 15, 2017

Rieger Report: Will Pressure on Property & Casualty Companies Impact the Bond Markets?

This Fall has been a difficult time for property & casualty companies.  The fires in Northern California have destroyed thousands of homes and the relentless string of hurricanes have damaged parts of Texas, Louisiana, Florida, Puerto Rico and the U.S. Virgin Islands. If these companies need to sell fixed income assets to offset liabilities they…

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Oct 3, 2017

Rieger Report: A Tale of Two Bond Markets

The U.S. corporate and municipal bond markets seem to be neck and neck in total return performance for the first three quarters of 2017.  However, there are distinct characteristics of both of these markets that have played a key role and could cause the performance to vary significantly going forward. The intent of this blog post…

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