Latest Stories

Longer Term View on U.S. Interest Rates

By David O'Malley | February 26, 2018

Given my bearish near-term view on U.S. Treasury bonds, I have recently been asked several times, where do interest rates go over the longer term? Over the next several years,… Read More

Pricing a ‘Powell Put’

By Mark Heppenstall | February 22, 2018

Financial markets have a history of testing the incoming Federal Reserve (Fed) Chairman shortly after taking office. There is no better example than October 19, 1987, the day infamously known… Read More

Fed Minutes, Warren Buffett’s Annual Letter Top the Week’s News

By David O'Malley | February 20, 2018

After a few volatile weeks for the markets, I expect a return to a more normal rhythm over the weeks ahead. The factors impacting both stocks and bonds are firmly in… Read More

Booming Economy, Volatile Market

By Zhiwei Ren | February 15, 2018

Two thousand seventeen was one of the quietest years in the market. Many volatility indicators reached record lows during the year and selling volatility and buying the dip were two… Read More

PMAM CIO Mark Heppenstall Discusses Market Volatility on CNBC’s “Closing Bell”

By Penn Mutual Asset Management | February 13, 2018

Chief Investment Officer Mark Heppenstall returned to CNBC’s “Closing Bell” last week to share his insights on the latest market volatility. He shared where he is finding value in the… Read More

What Lies Ahead After a Volatile Week for Stocks

By David O'Malley | February 12, 2018

Several technical factors caused significant volatility in the equity markets last week. In addition to an unwinding of low volatility positions, the equity market struggled with the implication of higher… Read More

Value in Private Student Loan Credit

By Jason Merrill | February 8, 2018

Student loan asset-backed securities (ABS) continue to be one of the most unloved sectors in structured credit.  Many institutional investors avoid the sector altogether due to policy risk and concern… Read More

Recoveries Don’t Die of Old Age

By David O'Malley | February 5, 2018

Congratulations to the Philadelphia Eagles on winning The Super Bowl! Last week stocks fell the most they have in two years – ending with a 666 point decline on Friday…. Read More

Tax Reform for Financial Institutions

By Hong Mu | February 1, 2018

Tax return season is quickly approaching. Personally, I’m grateful I will not be filing tax returns for any major financial institutions, as the abundant regulations imposed on many of them… 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.


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.

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

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