/perspectives/portfolio-strategy/fixed-income-outlook-identifying-relative-valu-(1)

Fixed Income Outlook: Identifying Relative Value Across U.S. Fixed-Income Market Sectors

In our new quarterly publication, the leaders of our fixed-income investment team discuss relative value and outlook in current market conditions.

March 17, 2016


Report Highlights

  • Volatility in global equities and credit markets has rattled investors, but we do not believe the factors roiling the markets will derail the ongoing U.S. expansion.
  • The decline in oil prices may be helping consumers, but, as our sector managers relate throughout this report, it has taken a toll on corporate credit. An important input to our credit view, however, is our Macroeconomic Research Team’s analysis showing that oil prices should rise towards $40 per barrel in 2016 as global supply and demand rebalance.
  • The Macroeconomic Research Team’s constructive outlook on the U.S. economy also supports our positive view on selected credit sectors and non-Agency residential mortgage-backed securities.
  • Recent spread widening across several areas of the ABS market, particularly in post-crisis mezzanine CLOs, creates a compelling entry point.
  • The Fixed-Income Outlook highlights the breadth, depth, and process of our fixed-income investment team.
 
 
 

FEATURED PERSPECTIVES

February 15, 2017

Fixed-Income Outlook: Assessing Value in a Faith-Based Rally

Our first quarter 2017 report reflects expectations for strong risk-asset performance as President Trump’s economic agenda takes shape.

January 23, 2017

10 Macro Themes to Watch in 2017

Ten charts illustrate the global macroeconomic trends most likely to shape the investment environment in 2017 and beyond.

January 13, 2017

High-Yield and Bank Loan Outlook: Focus on Floating Rate

Conditions bode well for credit, but a more aggressive Fed and geopolitics could bring volatility. 


VIDEO

Long-Term Macroeconomic Outlook 

Our Long-Term Macroeconomic Outlook

Scott Minerd, Global Chief Investment Officer, sheds light on U.S. economic strength, headwinds for the EU, and which emerging markets look attractive for long-term investors.

Strategies for a Low-Yield Environment 

Strategies for a Low-Yield Environment

Scott Minerd, Global Chief Investment Officer, and Anne Walsh, Assistant Chief Investment Officer, Fixed Income, share insights on investing in unprecedented market conditions.







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Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC ("Guggenheim"), which includes Security Investors, LLC ("SI"), Guggenheim Funds Investment Advisors, LLC, ("GFIA") and Guggenheim Partners Investment Management ("GPIM") the investment advisers to the referenced funds. Securities offered through Guggenheim Funds Distributors, LLC, an affiliate of Guggenheim, SI, GFIA and GPIM.

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