FireSide takes the stage! Chief U.S. Economist Lara Rhame and Investment Research Director Kara O’Halloran recap 2022 so far + what could lie ahead.

Halfway through 2022, this week’s chart revisits the Agg’s monthly returns as expected rate volatility spikes.

Capital spending has begun a seminal shift as the challenges from inflation, global unrest and supply chain disruptions form a new backdrop for executive decision makers.

A new strategy note from Chief Market Strategist Troy Gayeski

Volatility roared back in June. High yield bonds lost -6.8%, their worst month of 2022, while loans were down -2.16%. This marked the first back-to-back monthly declines of greater than 2% for loans since 2008.

Despite the pain felt by higher quality portfolios in the first half of 2022, we believe quality in credit markets will matter again in the back half of the year.

As signs of a mean reversion appear across markets, we evaluate the degree to which commercial real estate sectors may moderate.