Tactical ETF 4Q20 Market Review & Outlook
As we turn our attention, finally, toward 2021 we note that not only has the macro landscape changed dramatically over the past year, but it has also changed significantly over the last three months. A new U.S. president was elected, global Covid-19 cases surged, several high-efficacy vaccines entered distribution and, most recently, Congress passed further fiscal stimulus. Our view is that for the first half of 2021, the continued economic recovery, supportive policy, and effective vaccines should drive further upside in risk assets, sustain some upward pressure on long rates, and keep reflationary pressures alive.
Municipal Fixed Income
Sage Advice Municipal Quarterly Market Review 3Q2020
The tone of the municipal market did a 180-degree turn in the third quarter, as yield and spread volatility trended lower and seasonal demand . . .
Sage Advice Taxable Quarterly Market Review 3Q2020
For income-oriented investors, it has been a banner year, as yields fell in response to the global pandemic and spreads . . .
Considering the Unknown: Sage’s 2021 Market Outlook
From vaccine rollouts to monetary policy – what curveballs are Sage’s Investment Committee members keeping an eye out for in 2021?