Sage Advice Municipal Quarterly Market Review 4Q2019
Since valuations continue to remain rich for lower-rated credits, municipal investors would benefit from a modest reduction in BBB credits into A or better credits until relative value improves. Our portfolio sector allocations will remain focused on stable-to-improving sectors, including both general obligation and essential service revenue bonds rated A2 and higher. Ultimately, in a fully valued market, Sage will remain focused on value-based adjustments to incrementally add return and reduce risk over time.
Tactical Investment Strategy December 2019
The global macro landscape has brightened over the past quarter and we’ve entered 2020 with a positive outlook for data and returns, at least for the first half. Given . . .
Sage Advice Taxable Quarterly Market Review 4Q2019
Overall returns are likely to be constrained as compared to 2019’s exceptional gains. Core fixed income remains poised for modest gains, given a stable rate picture and . . .
Sage 2020 Market Outlook
In this podcast, Sage’s Director of Research Rob Williams and Vice President of Research and Portfolio Strategy Komson Silapachai provide a 2020 market outlook and. . . .