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In these times where every basis point counts, hybrids stand tall, offering the highest yields for an investment grade credit rating. As a reminder, a credit rating is simply an opinion of the likelihood that a bond will default during its time on issue. While hybrids...
Liquidity is the ability to buy or sell something whilst incurring normal transactions costs. Liquidity in fixed income markets are no less important to liquidity in equity markets. How does one measure liquidity? In a managed fund, it is complicated. It depends on many inter-related factors such...
Many yield-focused investors have gravitated toward hybrid securities in recent years, but most people do not take the time to really understand some unique features contained deep in the offer documents of these securities. This article aims to cut through the jargon and complexity to...
There has been talk in the press over the last few months about whether tariffs will push the US economy towards higher inflation. We will address that question in a later post, but for now we address something more fundamental to bond investors – why...
