by Aptus PM Team | May 2, 2022 | Rebalance Rationales
Welp, the call on bonds being a significant drag on portfolios continues to play out. At the end of the quarter, even in a S&P down market, the Barclays Aggregate has underperformed the S&P 500. So much for those safe and sound, set it and forget it bond...
by John Luke Tyner | Apr 8, 2022 | Blog, Bonds
* Bonds… The Rough Stretch Continues: The Bloomberg US Aggregate Index continues the largest drawdown in its history. Since August 6th, 2020 – the end of the most recent bull market in bonds – the index has declined by -9.2%. Even after the drawdown,...
by John Luke Tyner | Feb 18, 2022 | Blog, Bonds, Macro Updates
Current Rates & the Curve Macro influences like the Russia/ Ukraine news are likely temporary and the major influence over yields remains central bank tightening. That is the key to watch beyond the short term, and the bottom line is that the trend in...
by John Luke Tyner | Feb 10, 2022 | Blog, Bonds
From a risk-premia perspective, equities and high yield both provide exposure to corporate earnings, albeit in a different manner. While equity is a purer exposure to corporate profits, high yield provides exposure to default risk. Source: Cornerstone Macro. As of...
by John Luke Tyner | Feb 2, 2022 | Blog, Bonds
* Current Rates & the Curve: The front end of the curve continues to feel pressure as economists are now projecting five to seven rate hikes in 2022, and the forwards market forecasts just under five rate hikes by year-end. However, longer-dated interest rates...
