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Municipal Fixed Income Commentary 2Q2011
Despite lingering budgetary concerns for many municipal credits and net outflows of money from the municipal market, the 50% drop in year over year municipal new. . . .
Longevity Risk: Overlooked, but Not Forgotten
In a traditional defined benefit plan, virtually all risks associated with a plan participant’s pension are borne by the plan sponsor, including investment risk, contribution risk,. . . .
Tactical ETF Portfolio Shift Commentary 06/21/2011
We are increasing equities in favor of fixed income across all target-risk strategies. While we acknowledge that the list of macro risks remain long and are. . . .
Tactical ETF Portfolio Shift Commentary 05/11/2011
Based on our view that the dollar will stabilize, and possibly strengthen in the near-term, we have reduced dollar-sensitive assets including non-dollar fixed income, international equities and. . . .
Sage Advice Quarterly Market Review 1Q2011
During much of the first quarter and through April, investors seemed to be following a similar playbook; favor risk assets, hedge falling dollar risk and protect against. . . .
Taxable Fixed Income Commentary 1Q2011
The first quarter delivered modest returns for fixed income investors as yields rose overall and credit spreads held mostly steady. An assortment of risks ranging. . . .
Municipal Fixed Income Commentary 1Q2011
The tax-exempt market continued to experience negative net outflows throughout the 1st Quarter 2011, as retail investor sentiment remained cautious due to the ongoing negative. . . .
Tactical ETF Portfolio Shift Commentary 03/11/2011
We are reducing exposure to high yield credit in favor of opening a new positioning in emerging market debt. In May 2010, we rotated from emerging. . . .