Fixed Income

Predicting Bond Returns? Focus on GDP Growth and Inflation Indicators

By |2020-09-08T08:31:59-04:00September 8th, 2020|Research Insights, Basilico and Johnsen, Academic Research Insight, Machine Learning, Fixed Income|

Predicting Bond Returns: 70 Years of International Evidence Guido Baltussen, Martin Martens, Olaf PenningaWorking PaperA version of this paper can be found hereWant to read our summaries of academic finance papers? Check out our Academic Research Insight category [...]

Do Treasuries Have a Place in a Modern Portfolio?

By |2020-07-28T14:41:16-04:00July 9th, 2020|Research Insights, Academic Research Insight, Fixed Income, Macroeconomics Research|

Do treasuries, most yielding well south of 1%, have a place in a modern portfolio? Currently at these levels, I conclude they don’t. Modern Portfolio Theory says that “the market” portfolio, leveraged or not, has [...]

Compound Your Knowledge Ep 28: Bond ETF discussion with Jon Seed

By |2020-04-13T10:24:39-04:00April 13th, 2020|Compound Your Knowledge, Research Insights, Podcasts and Video, Media, Fixed Income|

In mid-February, prior to the market craziness, Jon Seed posted an article on our site titled: “Price”, ETFs, and Bond Market Liquidity. This was a prescient article, as it highlighted some of the issues with [...]

Compound Your Knowledge Ep 26: Bond Mutual Funds and ETFs

By |2020-03-26T18:42:35-04:00March 26th, 2020|Compound Your Knowledge, Research Insights, Podcasts and Video, Media, Fixed Income|

Last week, there were some pretty big dislocations between bond mutual funds and ETFs. I picked one specific example I found interesting, comparing the Vanguard high-yield muni bond mutual fund to two high-yield muni bond [...]

“Price”, ETFs, and Bond Market Liquidity

By |2020-04-15T18:02:59-04:00February 13th, 2020|Guest Posts, Fixed Income, ETF Investing|

Multiple events last year reminded us that “price” is a nebulous concept. The most well-publicized price disagreement came in September of 2019 when the public market balked at the price the private market (ok, mainly [...]

News Sentiment and Bonds

By |2019-05-28T13:25:20-04:00May 28th, 2019|Basilico and Johnsen, Academic Research Insight, Fixed Income|

Investing in US 10-year Yields with News Sentiment Nina Gotthelf and Matthias W. Uhl Journal of Investing, Winter 2018 A version of this paper can be found here Want to read our summaries of academic finance papers? Check [...]

Fixed Income Factors: An Overlooked Corner of the Market

By |2018-10-23T08:24:11-04:00October 9th, 2018|Research Insights, Factor Investing, Guest Posts, Fixed Income|

Factors, or "style" investing, seems to be all the rage these days, including the use of factors in fixed income (here, here and here are good places to start). However, many of these strategies focus on [...]

Which Investment Factors Drive Corporate Bond Returns

By |2018-06-25T08:46:31-04:00July 19th, 2018|Research Insights, Factor Investing, Fixed Income|

Which Investment Factors Drive Corporate Bond Returns Turan G. Bali, Avanidhar Subrahmanyam, & Quan Wen A version of this paper can be found here. Want to read our summaries of academic finance papers? Check out our Academic [...]

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