Partners in Investing

Volatility markets are not complacently priced. The packed catalysts calendar – upcoming corporate earnings, the U.S. general election, and ongoing public health concerns – is incorporated into the elevated prices of longer tenor ...

The emergence of State-owned Enterprise (SOE) borrowing in international capital markets has been notable in the last decade. Since the Global Financial Crisis, SOEs have sought to diversify their funding away from local banks. As...

The recent fall in cash and bond yields for those developed countries that still had positive yields has left government bonds in a position where they cannot provide two of the basic investment services they have traditionally pr...

Emerging countries have been in the midst of a crisis that is not of their own making. A great majority of these countries are navigating the crisis fairly well.

This paper highlights five reasons why Emerging Markets (EM) in aggregate are more resilient today than in prior periods. A “healthier” index composition in addition to four other reasons support our analysis that EM drawdowns wil...

The pandemic has created an extraordinary risk/return trade-off for the shares of high quality U.S. banks. We believe there is the potential for decent returns for bank investors without improvement in the current environment, and...

Recent unprecedented action by central banks, notably the Federal Reserve on April 9th, has helped markets recover meaningfully. This has caused many investors to wonder, “What do we do next?” or, “Did we miss the rally?”