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As short-term rates spike, long-term rates fall further

Benchmark rates have fallen as inflation jumps, highlighting an unexpected relationship. Our chart looks at the changing yield curve this year.

As small caps return to favor, quality remains a concern

Markets have turned risk-on since the election, as investors again embrace small caps. But 43% of Russell 2000 companies generate negative earnings.

As yields decline, so does cash’s appeal

Money market assets keep growing despite yields declining. This week’s chart looks at the diverging trends as cash may be losing its luster.

Assessing a new starting point

Against an exceptionally optimistic economic outlook, we analyze previous cycles to understand what may come next for stocks.

Asymmetric returns: Managing downside for greater upside

With cash yielding 5%, the allure of asymmetric returns has become even more compelling. We explain why, in today’s high-risk-free-rate environment, the value proposition of alternative investments is stronger than ever.

At its first meeting of 2018, the Fed stays the course

This Fed rate hike cycle remains on a slow and shallow trajectory

At new highs, stocks increasingly split from earnings

The S&P 500 has hit a fresh new high. Are stocks ready for a pullback? This week’s chart looks at the split between equities and earnings.

Awakening: The rise of private debt

Private debt has grown from niche asset class to a heavyweight due to multiple structural shifts in capital markets—and its growth has shifted the opportunity set for both investors and borrowers.
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