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| Senior Product Manager James Lukens discusses the threat to US pension plan funding levels posed by the likely decline in AA corporate bond yields, which will act to push up plan liabilities at a time when plan assets are unlikely to keep pace. The paper details both the short-term tactical opportunities and the many long-term strategic advantages of an investment in US long-duration corporate bonds. | | |
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| Alexander Kozhemiakin, PhD, CFA, Director of Emerging Market Strategies, answers commonly asked questions about emerging market local currency debt (EMLCD) -- about the recent development of the asset class, its varied and distinctive sources of return, and its increasing role in a well-diversified capital markets portfolio. | | |
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| With the benefit of fifteen years of meetings with Chinese elected officials, economists, and private and central bankers -- most recently in November 2008 -- Mr. Ladd assesses both current economic developments in China and their broader implications for financing economic activity in the United States. Withdrawal can be painful. | | |
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| In "Secured Bank Loans: Another Arrow in the Bond Manager's Quiver," Andy Catalan makes the long-term case for including this growing asset class in the opportunity set of all portfolios permitting below-investment-grade credit -- and identifies a potential near-term opportunity as well. | | |
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| Jim Lukens and Karen Watters examine the looming problem of sub-prime ARMs resets and the plan proposed by Treasury Secretary Paulson to prevent a flood of foreclosures from overwhelming the US housing market and economy. | | |
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| Rip Reeves details the various risk and return measures that make taxable municipals attractive for inclusion in investment-grade bond portfolios, particularly those of insurance companies. | | |
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| Cathy Powers, Managing Director of Core Strategies, Asset Backed and Commercial Mortgage Research, addresses the troubling underwriting trends in the commercial mortgage market and the similarities we see between the sub-prime and commercial mortgage markets. | | |
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| Andrew Catalan, CFA, Director of Global Credit Research, examines the impact of private equity on the bond market. | | |
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| Kent Wosepka, Managing Director of Absolute Return and Core Plus Strategies, examines the Sub-Prime mortgage sector and the impact of recent events on the Market for 2007 and beyond. | | |
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| Seven months after the Fed’s last rate hike, Managing Director for Core Strategies, Cathy Powers, examines the factors contributing to an uncertain future - rate hikes vs. rate cuts. | | |
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| Maura Caporale, Senior Analyst for Corporate Bonds, examines the evolution of hybrid capital securities. | | |
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| David Bowser, a senior member of the credit team, offers an in-depth look into Credit Default Swaps (CDS) and their use and benefits in fixed income management. | | |
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