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Fixed Income Weekly Market Commentary

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This commentary, published by Janney Fixed Income Strategy & Research, covers key occurrences in economics, interest rates, agencies and corporates, and municipal bonds from the preceding week.

August 22, 2016: Summer doldrums? This week is anything but, thanks to a stout muni new issuance calendar and the Fed’s Jackson Hole conference Friday.

IN THIS ISSUE OF FIXED INCOME WEEKLY:

  • It’s always good to question your assumptions. In our extended economic section, we attempt to do just that, by donning an optimistic economist’s suit at looking at those factors that could contribute positively to growth, both today, and well into the future.
  • Credit investors seem to have a very short memory: about a year after violent spread widening led by the energy sector impaired valuations across high yield, complacency and the hunt for yield is once again the dominant theme today.
  • The Long Island Power Authority suffered operational losses during Hurricane Sandy and is only now getting fully back-on-track, as evidenced by a recent Moody’s rating upgrade on the entity’s municipal debt.

 

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