Latest Stories

Big Week for Bonds Ahead

By David O'Malley | January 29, 2018

This week will be interesting for fixed income investors. With mounting talk of a bear market ahead for U.S. Treasuries, the market has to digest several key events this week…. Read More

High Yield for the Long Term

By Greg Zappin | January 25, 2018

Following another strong year in the risk markets and a robust start to the New Year, where to invest and how to allocate assets across markets has become a difficult… Read More

Interest Rates Move Higher

By David O'Malley | January 22, 2018

My EAGLES are going to the Super Bowl! Fly Eagles Fly… The 10-year Treasury ended last week at 2.66% – its highest level since 2014. A combination of factors are pushing… Read More

Hidden Risks in Pari Passu Loans?

By Jen Ripper | January 18, 2018

I recently attended the 25th Commercial Real Estate Finance Council (CREFC) annual conference that was attended by a record number of guests (1,801). CREFC is a trade association exclusively dedicated… Read More

Will Earnings Keep the Stock Market Momentum Going?

By David O'Malley | January 16, 2018

Last week’s inflation data came in slightly above expectations while most equity markets continued to rally. Stocks pushed to new all-time highs on optimism for economic growth, deregulation and a… Read More

2018 Capital Markets Outlook

By Mark Heppenstall | January 12, 2018

Despite correctly calling the long-running bull market to extend into “extra innings” last year, we did not foresee financial markets finishing 2017 with a perfect batting average. For the first… Read More

Preferred/Hybrid Issuance Jumps in Midstream Sector

By James Faunce | January 11, 2018

Junior subordinated hybrid debt and perpetual preferred stock issuance jumped meaningfully for midstream issuers in the second half of 2017, as this week’s chart demonstrates. The midstream sector, dominated by… Read More

Markets Turn Attention to Inflation Reports

By David O'Malley | January 8, 2018

Two U.S. inflation reports being released on Thursday and Friday will highlight the week ahead. The release of the Producer Price Index and Consumer Price Index will show if inflationary… Read More

2017 Economic and Market Review

By Mark Heppenstall | January 5, 2018

Economic Growth & Inflation The ‘Goldilocks’ U.S. economic recovery has now moved beyond its 100th month with few signs of normal late-cycle imbalances or excesses to derail the current expansion…. Read More

Is the New Tax Law Really a Tax Cut for High Yield Corporations?

By Scott Ellis | January 4, 2018

First, Happy New Year to everyone out there! For the first chart of the week of the new year, I’ve taken a deeper look at the potential winners and losers… Read More



Disclosure Statement

The material provided here is for informational use only. The views expressed are those of the author, and do not necessarily reflect the views of Penn Mutual Asset Management.

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This material is for informational use only. The views expressed are those of the author, and do not necessarily reflect the views of Penn Mutual Asset Management.  This material is not intended to be relied upon as a forecast, research or investment advice, and it is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy.

Opinions and statements of financial market trends that are based on current market conditions constitute judgment of the author and are subject to change without notice.  The information and opinions contained in this material are derived from sources deemed to be reliable but should not be assumed to be accurate or complete.  Statements that reflect projections or expectations of future financial or economic performance of the markets may be considered forward-looking statements.  Actual results may differ significantly.  Any forecasts contained in this material are based on various estimates and assumptions, and there can be no assurance that such estimates or assumptions will prove accurate.

Investing involves risk, including possible loss of principal.  Past performance is no guarantee of future results.  All information referenced in preparation of this material has been obtained from sources believed to be reliable, but accuracy and completeness are not guaranteed. There is no representation or warranty as to the accuracy of the information and Penn Mutual Asset Management shall have no liability for decisions based upon such information.

High-Yield bonds are subject to greater fluctuations in value and risk of loss of income and principal. Investing in higher yielding, lower rated corporate bonds have a greater risk of price fluctuations and loss of principal and income than U.S. Treasury bonds and bills. Government securities offer a higher degree of safety and are guaranteed as to the timely payment of principal and interest if held to maturity.

All trademarks are the property of their respective owners. This material may not be reproduced in whole or in part in any form, or referred to in any other publication, without express written permission.

Copyright © 2014 Penn Mutual. All Rights Reserved. All trademarks are the property of their respective owners.

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