The Case of AI Disruption and CLO Dispersion
Edwin Wilches, CFA,
Connor Byrnes,
Jordan Rosenhouse,
Loren Sageser
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March 26, 2026
Recent AI-driven volatility within the tech sector is fueling increased dispersion across the leveraged loan market with pronounced effects on CLOs.
Iran: The Downside Scenario is Now the Base Case—10 Updated Thoughts
Daleep Singh
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March 16, 2026
The "Hydra Holdout" scenario outlined earlier in March—a decentralized Iranian regime hunkering down and wreaking havoc at the world's most important chokepoint—has graduated from a tail risk to the base case.
Senior CLO Liquidity: A Class of its Own
Edwin Wilches, CFA,
Connor Byrnes,
Loren Sageser
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March 10, 2026
The following discussion provides an overview of the dynamics that make senior CLOs such a valuable tool for asset allocators seeking to enhance portfolio liquidity across a range of market environments.
Slowly Earned, Quickly Lost: Revisiting Central Bank Credibility
Alisha Asija,
Shikeb Farooqui,
Giancarlo Perasso
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March 6, 2026
This post extends the framework of our Inflation Fighting Credibility Index as we analyze nine EM central banks that operate under inflation-targeting regimes.
Ten Thoughts on Iran
Daleep Singh
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March 4, 2026
The war in Iran remains in its early stages and much remains unknown. But enough has happened to frame the contours of risk—and the shape of the distribution—facing markets as the conflict continues.
Tackling 10 Questions About Credit Secondaries
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February 26, 2026
The following Q&A provides insight on several key aspects of private credit secondaries.
The ECB Signals Job Done
Katharine Neiss, PhD,
Matthew Nastasi, CFA
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June 5, 2025
With domestic inflationary pressures in line with its inflation goal, the takeaway from the June ECB meeting is that there is no need for further rate cuts from here.
A Dovish, But Not Necessarily Accommodative, ECB
Katharine Neiss, PhD,
Guillermo Felices, PhD,
Ritush Dalmia, CFA
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April 17, 2025
The ECB cut by 25 bps during the April meeting. However, an important question mark remains as to whether trade uncertainty may tip the ECB into accommodative territory later into 2025.
The State of Securitization from SFVegas
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March 7, 2025
This blog shares our key takeaways about each asset class of securitized products based on the learnings made and the meetings had at SFVegas 2025.
ECB May Sense Neutral as Fiscal Finally Emerges
Katharine Neiss, PhD,
Matthew Nastasi, CFA
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March 6, 2025
The ECB’s March meeting happened against a backdrop of momentous changes on Europe’s fiscal front. While the ECB cut by 25 bps this month, we believe the bank may be largely done with cuts.
As ECB Policy Gradually Diverges, Impatience May Loom
Katharine Neiss, PhD,
Guillermo Felices, PhD
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January 30, 2025
The ECB expectedly cut rates during the January meeting and did not convey any urgency for the need to cut rates more aggressively in 2025.
Insights from Cutting Through Central Bank Narratives
Guillermo Felices, PhD,
Ritush Dalmia, CFA,
George Jiranek, CFA
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January 29, 2025
Our probabilistic analysis sheds light on how fluctuations in markets' expectations of central bank policy rates have evolved and provides a tool for contrasting fundamental views.
Bank of Japan Rate Hike to 17-year High Portends More
Seiji Maruyama, CMA,
Katharine Neiss, PhD,
Mariusz Banasiak, CFA
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January 24, 2025
The Bank of Japan raised its policy rate to 0.5%, the highest in 17 years, aiming for a balanced approach to avoid market volatility, yen weakening, and triggering sharp market repricing.
The Vulnerability—and Potential Value Creation—in UK Assets
Katharine Neiss, PhD,
Guillermo Felices, PhD,
Ritush Dalmia, CFA
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January 23, 2025
Recent Gilt yield spikes highlight UK's fiscal vulnerability, driven by stagflationary risks and global shifts in investor sentiment.
Analysis of 4 Political Policy Areas on the U.S. Economy
Mehill Marku
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October 16, 2024
A scenario analysis on four key areas related to the 2024 U.S. Elections, trade & tariffs, fiscal policy, immigration & labor supply, and monetary policy, all with significant economic impacts.
Fed's 50 bp Cut Kickstarts Recalibration
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September 18, 2024
In one of the more anticipated FOMC meetings in recent memory, the Federal Reserve kicked its easing cycle off with a 50 bps cut which marks the recalibration of U.S. monetary policy.
U.S. Bank Update Amid an Economic Turn
David Jiang
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August 21, 2024
More than one year after the banking panic of early 2023, we reflect on the sector's investment portfolios, liquidity, and profitability conditions.
Biofuel Producers: Pockets of Opportunity in Brazil
Taylor Chatlos,
David Shellhammer
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August 15, 2024
While a wide swath of the biofuel segment presents a compelling opportunity for investors, we view corn-based ethanol producers in Brazil as particularly attractive.
The Credit and Decarbonization Impacts of Sustainable Aviation Fuel
Taylor Chatlos,
Jack Fitzsimmons
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June 5, 2024
Sustainable aviation fuel (SAF) is a viable solution to decarbonizing aircraft travel but due to the slow pace of SAF uptake, airlines may fall short of their publicized decarbonization goals.
Cybersecurity: How it Affects ESG Impact and Credit Quality
Birgit Lundem Jakobsen
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September 26, 2023
With the right analysis, investors can gauge which firms apply basic, better, or best cybersecurity practices; such an assessment can protect clients' assets.
