The Fed Rate Cut Is Met with an Unprecedented Reaction in Bonds: What’s Next?

Fixed Income Perspectives by Christian Brobst
March 3, 2020

The Fed caught markets off guard with a surprise short-term rate cut. While the Fed intended to lessen market worries, the immediate-term effect has been the opposite. Has the Fed done more harm than good, and what should investors do next? We see a market environment that will favor active, non-traditional approaches.

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The Opportunity of Preferred Securities

Fixed Income Perspectives by Matt Freund, CFA and Christian Brobst
February 21, 2020

This is an environment where investors are well served by enhanced diversification into asset classes that play at the edges of traditional style boxes. The preferred securities market offers many opportunities for risk-conscious investors seeking income and the potential for total return.

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Short and Sweet: The Opportunity of Short-Term Bonds

Fixed Income Perspectives by Matt Freund, CFA and Christian Brobst
February 20, 2020

Over recent years, many investors have stretched for additional return by increasing risk. The volatility we’ve seen so far this year may make “risk-on” a less comfortable strategy in the future. For investors seeking to smooth out the bumpier ride we expect, short-duration bonds can be a good way to reduce risk while staying invested.

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Why Do Inflation Targets Matter?

Fixed Income Perspectives by Christian Brobst
August 16, 2019

If you follow the news about central banks, either domestic or foreign, you have probably noticed an increased effort by central banks to achieve core inflation targets. So why do inflation targets matter? In the end, it really comes down to how people and businesses make decisions about expenditures that drive economic growth.

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The Underappreciated Swap Curve: A Closer Look

Fixed Income Perspectives by Christian Brobst
December 4, 2018

Over recent days, U.S. interest rate curves have moved rapidly toward inflection points. In this post, we take a look at what investors should watch, and how interest rate curves can be used to gauge the psyche of the market.

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Short-Term High Yield: The Road Less Traveled

Fixed Income Perspectives by Christian Brobst
September 27, 2018

The short-duration high yield market may be an overlooked corner of the market, but the Calamos Fixed Income team sees it as an excellent hunting ground for alpha opportunities.

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Avoiding the (Yield) Curve Ball

Fixed Income Perspectives by Matt Freund, CFA
July 12, 2018

Co-CIO Matt Freund discusses yield curves and the economy, including why an inverted yield curve isn’t a reason to re-write the fundamental principles of long-term investing.

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The Lazy Bond Trade Is Over—But That’s Okay

Fixed Income Perspectives by Matt Freund, CFA
March 23, 2017

A 0.25% increase in short-term rates is unremarkable on its face, but what we’ve seen over these past few weeks points to a new dynamic in the Fed’s relationship with the market.

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