DC Plan Sponsors: Seven Priorities for 2023
Defined contribution (DC) plans, among other retirement savings vehicles, are the most common ways that US workers save for retirement. DC plan programs in the United States totaled $8.9 trillion…
Have Central Bank Interventions Repriced Corporate Credit? Part 3
The Ongoing Influence of Fed Intervention The markets responded immediately when the US Federal Reserve announced it would intervene in corporate credit markets to bolster the economy amid the pandemic…
Beyond Duration and Convexity: Eight Ways to Bond with Clients
After working with private clients for 27 years, I’ve done many non-traditional things beyond offering them investment advice. I’ve gone for runs; attended funerals, bar mitzvahs, and concerts; and even…
The Debt Ceiling: A Nation Divided and Indebted Cannot Stand
“Exigencies are to be expected to occur, in the affairs of nations, in which there will be a necessity for borrowing. That loans in times of public danger, especially from…
Machine Learning and FOMC Statements: What’s the Sentiment?
The US Federal Reserve began raising the federal funds rate in March 2022. Since then, almost all asset classes have performed poorly while the correlation between fixed-income assets and equities…
2023 US Wealth Management Outlook: Tax Planning and Wealth Preservation
After a down year for financial markets, investors’ priorities have naturally shifted from growing their assets to preserving their wealth. While risk management may be the key component of wealth…
Can Argentina Recover? Emerging Market Lessons
With its riveting victory over France in the World Cup finals and the heroics of its all-time great team captain Lionel Messi, Argentina has good reason to celebrate. But as…
Short Squeezes: A Four-Factor Model
Anticipating and riding short squeezes has grown in popularity as an investment tactic in recent years. The GameStop short squeeze, galvanized by motivated retail investors on internet message boards, is…
Have Central Bank Interventions Repriced Corporate Credit? Part 2
Read the complete three-part series. The European Central Bank (ECB) began buying corporate debt as part of its corporate sector purchase programme (CSPP) in 2016. Given its clear and unambiguous…
The Yen’s Downside Risk Persists Despite BOJ Shift
The Bank of Japan (BOJ) widens the 10-year yield trading range. The BOJ announced its latest yield curve control (YCC) change on 19 December, raising the 10-year yield cap from…
