Old School v. New School – Not All Tobacco Bonds Are the Same
June 20, 2024 — While the investment grade tobacco index has outperformed the municipal broad market index by almost 150 bps YTD through May, the high yield tobacco index has experienced significant underperformance relative to the high yield municipal index.
Featured Insights
Fixed Income
A Rising Star — Fed Raises Projections for Long Term Fed Funds Rate
June 17, 2024 -- The interest rate environment over the past nine months has resembled a pendulum as markets (and Fed officials themselves) attempt to shift from a hiking to...
Municipal Fixed Income
Municipal Fixed Income Perspectives — June 2024
June 12, 2024 -- This presentation provides an overview of our municipal market outlook and key themes, and it illustrates how Sage is positioned in the current environment.
Fixed Income
The Conundrum Facing Fed Policymakers
June 10, 2024 -- Last week, the European Central Bank and the Bank of Canada each lowered their respective policy rates by 25 basis points, as widely expected. However...