Mortgage-backed securities (MBS) may provide opportunity in a
challenging bond market environment.
Our analysis of earnings conference call transcripts for the first quarter
earnings period provides a mixed picture.
Job growth may be slowing, but when put in a broader context, it may also be at the height of its new potential.
Much work has been done on potential election year impacts for the stock
market, but little on interest rates and the bond market.
In our view, the April 2016 employment report underscores a key disconnect
between the market and Federal Reserve (Fed).