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Showing 13–18 insights out of 159 results

Chart of the week

Bond performance has improved, but volatility remains

Large monthly swings in core fixed income continue to rattle investors, calling into question its traditional role as a portfolio ballast.

Chart showing monthly and annual returns for the Bloomberg U.S. Aggregate Index. While the index’s annual return has seen a solid recovery since its low point in 2022, the volatility of its monthly returns has picked up. The Agg has averaged 2% moves per month since the start of 2022 compared to an average of just 0.7% per month from 2015–2019.

By Troy Gayeski

The Takeaway with Troy Gayeski: Replacing fixed income

Our Chief Market Strategist dives into his latest strategy note on how investors can replace or complement fixed income with alternatives.

Chart of the week

Private credit is a small fraction of the U.S. credit market

In contrast to the headlines, the primary story in private credit is the change in market share, not the change in market size.

$Column chart showing major corporate credit markets by size. The chart highlights how small the private credit market remains, despite it accounting for outsized press over the past year. Private credit represents approximately $1.25 trillion in the U.S. and $2 trillion globally, which represents a fraction of the investment grade ($9 trillion) and bank loan ($11 trillion) markets.$

Private markets outlook: Refilling the glass

Our experts examine private markets and the outlooks for private equity, private credit and commercial real estate in 2025.

Mapping the markets: Q4 2024

Our Investment Research team compiled their best charts and latest market analysis across macroeconomics, public markets and private market strategies to help our clients map today’s markets.

Chart of the week

Private credit yields remain attractive despite Fed rate cuts

Real yields on private credit could remain in their top historical quartile even if the Fed cuts another 75 basis points as markets expect.

Line chart showing private credit real (inflation adjusted) yield and forecasted real yield based on the market-implied forecast of the Fed funds rate through December 2025. Even if the Fed reduces rates by another 75bps by December 2025 as the market currently expects, a private credit real yield of approximately 7.7% would be higher than in 80% of cases throughout the market’s history.

Showing 13–18 insights out of 159 results