The Macro View

MacroView’s November 2018 Bond Market Summary

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  US Treasuries – The 10-year treasury reached its peak closing yield thus far in 2018 on November 8. However, ongoing equity market volatility driven by trade concerns, coupled with more dovish language from Fed Chair Jerome Powell reversed the upward trend in interest rates as the month drew to a close. The spread between… Read more »


Dividend Paying Stocks Have Appeal But Don’t View Them As Bonds

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  Conservative investors have historically invested in dividend-paying stocks to generate income and increase stability in their portfolios. The ability of these companies to pay a dividend is viewed as a sign of current financial strength and a forward-looking sign of positive expectations for growth and earnings, a perfectly reasonable assumption. However, many investors make… Read more »


Flattening Yield Curve – A Sign of Things to Come?

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  Lately, the topic at the forefront of headlines and discussions in the investment industry is the flattening US treasury yield curve. This phenomenon occurred as short-term interest rates, largely influenced by the Federal Reserve’s monetary policy tightening, have risen significantly. On the flipside, long-term interest rates, which are largely influenced by growth and inflation… Read more »


Before You Buy That High Coupon Bond…

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Confusing Coupon and Yield Could be Costing Your Clients Two key features for individual bond investors to pay attention to are coupon and yield. Coupon represents the annual cash flow an investor will receive as the bondholder. For example, an investor who owns a bond with a 4% coupon will receive $4 in interest annually…. Read more »