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Are You Ready For Uniform MBS? (Part 1) 

Models/Client Cases , Fixed Income , Risk Management

Fannie & Freddie will conclude Single Security Initiative (SSI) June 3, 2019, creating a single to-be-announced (TBA) market & a new TBA security: the uniform mortgage-backed security (UMBS)

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Factors and ESG: the truth behind three myths 

Models/Client Cases , ESG Research , Factor Investing

There are misconceptions of the relationship between factors and ESG issues. We debunked three common myths about ESG, momentum, quality and smaller-cap stocks.

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Santander’s coco extension: The new market norm? 

Models/Client Cases , Fixed Income , Risk Management , Integrated Risk Management

Banco Santander announced it would extend — i.e., not call — its additional-tier-one contingent-convertible (coco) bond. Was the market caught off guard?

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Are Subprime Auto Loans at a Tipping Point? 

Models/Client Cases , Economic Exposure , Fixed Income

Investors and the media have lately turned their attention to credit risk in U.S. subprime automotive lending — concerns that increased during the recent market volatility.

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How mortgage fees affect rates and spreads 

Models/Client Cases , Real Estate Investing , Fixed Income

How could potential changes in U.S. mortgage policy and possible long-term industry trends affect mortgage-related fees and rate spreads?

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CDS hedging: exploring all the options 

Models/Client Cases , Fixed Income , Risk Management

The credit-default-swap (CDS) market previously offered a cost-effective means to make short-term hedges or place bets on an individual issuer’s credit.

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From credit crunch to liquidity crunch: managing liquidity 

Models/Client Cases , Fixed Income , Risk Management

Volatility of credit spreads in both emerging- and developed-market debt increased significantly in 2018. Large rises in credit spread levels were followed by increased bid-ask spreads, making it expensive to reduce exposure within a short time frame.

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Investing in convertible bonds when rates rise 

Models/Client Cases , Fixed Income , Risk Management , Integrated Risk Management

Is my convertible bond more like a stock or a bond? How can I identify convertible bonds offering protection from rising rates?

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What it may mean for Japanese stocks if easy money ends 

Models/Client Cases , Global Investing , Factor Investing

Some observers are concerned that when the Bank of Japan (BOJ) eventually ends its ultra-easy monetary policy, it could hurt the Japanese stock market. Part of this concern stems from the fact that the BOJ’s unconventional monetary policy involves purchasing Japanese exchange-traded funds (ETFs).

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Which factors mattered in China? 

Models/Client Cases , Global Investing , Factor Investing

Chinese equity prices have hardly been music to investors’ ears so far in 2018. The MSCI China A Onshore IMI Index — the broadest MSCI A shares index designed to represent the performance of the overall A shares market — has declined more than 25% in local currency terms through Oct. 31, 2018. Were there factors in this market that outperformed?