Guided Strategy Finder
×
Guided Strategy Finder
Make a selection to be directed to a strategy that meets your needs.
Submit
Make a selection to be directed to a strategy that meets your needs.
Submit
Market Review and Outlook 4Q20 - Leveraged Finance
Resilience Abounds
For 4Q, the JP Morgan Leveraged Loan Index returned +3.78%, bringing the 2020 return to +3.19%, but loans drew more attention in early January as rates rose. The ICE BofA US High Yield Index had a 6.48% return. The confluence of election results and COVID vaccine announcements set the stage for a powerful rally, led by companies with strong business models and a significant liquidity runway to deal with the pandemic.
Market Review and Outlook 4Q20 - Investment Grade and Tax-Exempt Fixed Income
Will Fiscal and Monetary Policies Make America Reflate Again?
For all the uncertainty about the pandemic, elections, and fiscal support from Washington, the fourth quarter of 2020 saw a liquidity driven rally led by the lowest quality, highest beta parts of the investment grade taxable market. According to Deutsche Bank, 38 of the 39 asset classes it follows were up in the quarter, very much like 4Q19.
Look for High Yield Durability in 2021
Don’t let record low rates sway you. High yield still has the potential to enhance income and total return, lower interest rate volatility, and diversify risk in fixed income portfolios.
Time to Hash Over Your Cash Stash?
Obsession with liquidity via money market funds comes at a price, which is why investors may want to consider short- and ultra short-term bond funds with higher yields as rates stay lower for longer.
Leveraged Loans: Potential Total Return Opportunities Remain Well Intact
Consider the improving fundamentals, modestly positive technicals, and favorable valuations that offer a historically attractive entry point. What’s more, as measured by excess returns, loans actually outperformed high yield five of the seven months through July of 2020, and have outperformed high yield bonds historically during downturns.
Market Review and Outlook 3Q20 - Investment Grade and Tax-Exempt Fixed Income
Record Liquidity and Leverage as Pandemic Election Nears
Rate volatility really disappeared over the third quarter with the front end of the yield curve anchored by the Fed's intentions to not do anything with rates for at least three years.
The High-Yield Advantage
Mike Kirkpatrick joined Virtus Chief Market Strategist Joe Terranova for an insightful discussion about active management in the high yield market.
News & Insights Archive