Making new acquaintances in fixed income
- Friendships are precious, yet even the best ones can grow stale, just ask core bond investors.
Duration, not default, is the risk du jour
- Bonds being debt, and debt being a promise, bondholders have traditionally focused on an issuer's ability to keep that promise when the
time comes to pay.
At 17x P/E, can US stocks rise higher?
- The S&P 500 Index reached new record highs in late October – pushing the trailing 12-month P/E to just over 17 times earnings.
Is "risk-off, risk-on" done?
- Since early 2012, correlations between sectors in the S&P 500 have greatly subsided – a sign that market conditions may be normalising,
recent political dysfunction notwithstanding.