Topics of Interest

Commodities: what’s changed?

In this research piece, we take an objective look at futures-based commodity strategies in the current environment and focus on three key questions. First, what has been the cause of such poor performance? Second, might this performance be the result of a permanent change in the commodity markets? Third, why do we invest in commodities… More

January 2017

High Yield & the Credit Cycle

US High Yield bond spreads peaked in Q1 2016 as a result of the selloff in commodities, led by oil. The credit cycle may be aging and may be appropriate to reexamine the role of high yield bonds throughout different phases of the economic cycle. This TOI seeks to examine the following: The characteristics of… More

October 2016

Sell Low Buy High?

September 2015