Sage Advisory

A reintroduction of SLR relief to balance treasury market stability and systemic risk would likely produce several market effects.

Swap spreads measure the difference between the interest rate on a swap and the yield on a Treasury bond with the same maturity.

Last week President Trump announced tariffs on nearly all US trading partners, a move that far exceeded the most pessimistic expectations of market participants.

In recent weeks, market volatility has surged, driven by uncertainty surrounding the growth picture and Washington's economic policy

In this week’s edition, we shift our focus to another critical segment of the ABS market: those tied to consumer loans, such as credit cards and auto loans.

High fiscal deficits from tax cuts and tariffs raised concerns about inflation. However, markets have since shifted their focus.

In this post we attempt to demystify the mechanics and implications behind why the Fed is considering pausing its QT program.

A closer look at the broader landscape reveals why the United States remains positioned to pursue a strategy of tariffs.

Consider gaining AI market exposure through data center ABS (asset-backed securities) and CMBS (commercial mortgage-backed securities).

The US housing market faces a delicate balancing act in 2025, influenced by effects of the pandemic and persistently high mortgage rates.

Two key components drive the shape of the yield curve: expectations for the short-term interest rate and expectations for the term premium.

Two key components drive the shape of the yield curve: expectations for the short-term interest rate and expectations for the term premium.

As the year comes to a close, we revisit some of the key market themes and moves for 2024 and the year ahead.

Fixed income markets face key questions that will shape their direction in 2025. This post explores these questions & their potential impact.

With a "Red Sweep" in Washington likely, markets are now pricing in a more aggressive policy agenda.