A we put 2020 firmly in the rear-view mirror, we simultaneously contemplate the state of fixed income markets as we head into 2021. We spent much of our commentary budget last year discussing the massive dislocation and subsequent recovery in fixed income markets while also viewing these from a historical perspective.
2020, a year characterized by a global pandemic, saw dramatic reversals in sentiment and leadership in equity markets. After being panic-stricken in the first quarter when the pandemic broke out…
On January 6, 2020, the world watched in astonishment as a mob stormed through the U.S. Capitol to reject the legitimacy of the democratically elected candidate’s presidential victory. Once again, we were reminded that it is policy and not politics that drives risk asset performance.
Despite a meaningful lead in national polls by former Vice President Biden over President Trump, the next President of the United States will be decided by the outcome in approximately 13 states …
The final stanza of 2020 is upon us, and the fixed income landscape looks quite complacent across many sectors of the market. Treasury rates are somewhat of an exception, as the re-steepening of the treasury curve is pronounced …
History teaches us that financial assets and markets can survive and indeed thrive under different political systems (see China and Thailand for example), but social unrest and instability are their common and universal kryptonite.
