Municipal bonds have failed to keep pace with Treasury strength so far
in 2016, but performance has been robust.
Since the middle of 2014 — as markets prepared for the start of Federal
Reserve (Fed) interest rate hikes and more easing from the European Central
Bank (ECB) and the Bank of Japan (BOJ) — the U.S. dollar has been on a near
historic run higher versus the currencies of major U.S. trading partners.
Our Corporate Beige Book highlights modest deterioration in corporate
Heads or tails, politics or economics? Politics and economics are separate,
but related disciplines, like two sides of the same coin.
The 10-year Treasury yield has fallen by 0.6% over the past six weeks, a
very rare occurrence.