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What’s Behind the Recent Rise in Real Yields?
by Tom Fahey, Michael Gladchun of Loomis, Sayles & Co., 3/8/21

Rising yields and a steeper yield curve are par for the course as an economy enters the recovery phase of the global credit cycle.

Reasons to Believe in a Recovery, Regardless of the Election Outcome
by Tom Fahey of Loomis, Sayles & Co., 11/5/20

Almost nothing has felt certain in 2020. The presidential and congressional election results are two more things to add to the list. Markets had largely expected a blue wave, which has not materialized.

When it Comes to Fiscal Policy, Does it Really Matter Who Wins the Election?
by Tom Fahey of Loomis, Sayles & Co., 11/2/20

There appears to be an increased willingness to engage in deficit spending on both sides of the aisle in Washington, DC. This could lead to a more “middle of the road” outlook for fiscal decision making.

Credit Repair: What's Different This Time?
by Tom Fahey of Loomis, Sayles & Co., 7/8/20

As we enter credit repair, we are wary of using the global financial crisis as a benchmark for the path to recovery. We see several key reasons that suggest this time will be different.

Loomis Sayles 2017 Sector Teams' Outlook
by Teri Mason, Tom Fahey, 2/8/17
We’re modestly optimistic about 2017, but there are a host of unknowns as we become acquainted with our new President Trump, what policies he may pursue, and how they will impact the world body politic. Loomis Sayles' sector teams weigh in on potential opportunities in the year ahead.

A Trump White House: Potential Market Impacts of the US Election
by Tom Fahey of Loomis, Sayles & Co., 11/9/16

Donald Trump's presidential upset has stunned financial markets, which had heavily discounted a Clinton victory. What might Trump's policy proposals mean for markets and key components of the US economy going forward?

Mid-Year Outlook for Investment Grade and High Yield Bonds
by Tom Fahey of Loomis, Sayles & Co., 6/7/16
This is a “risk on” environment that has supported fixed income credit sectors - but it probably has an expiration date looming. With the US in late cycle, a multi-year spread tightening phase is unlikely.

Don't Panic: Putting Market Turbulence in Context
by Tom Fahey of Loomis, Sayles & Co., 8/28/15
Sharp declines in China’s equity markets have heightened fears about the country’s economic prognosis and what it might mean for global growth. While concerns center on the emerging markets, the tumult has spilled across global financial markets. Our advice: don’t panic.

Five Policy Prescriptions for Europe
by Tom Fahey of Loomis, Sayles & Co., 10/19/11
The European sovereign debt crisis is chronic. It can not be resolved until countries can demonstrate the ability to grow and improve their budget deficits. The immediate need is to stop Europe from hemorrhaging risk into the global financial markets. That can only be done by the ECB because it is Europes most effective and high profile euro-area institution and the banking systems only lender of last resort. Until the ECB steps up to commit sufficient liquidity, the overall septic conditions of European risk will likely continue to infect the global capital markets.

The European Debt Crisis: Key points to consider
by Tom Fahey & Ed Thaute of Loomis, Sayles & Co., 8/17/11
A toxic combination of factors contributed to the recent selloff in risk assets and the sharp decline in German and US government bond yields. The lingering European sovereign debt crisis, exacerbated by political bickering, weak economic data and doubts about the potential effectiveness of monetary and fiscal policy tools, fed investor anxiety. Ever since Greece requested its first rescue package in May 2010, the European sovereign debt crisis has been simmeringwith occasional flare-ups.

Middle East Politics and Oil: The Influences on Global Interest Rates, Credit Spreads & Stock Prices
by Tom Fahey, Ryan McGrail, Richard Skaggs and Joseph Taylor of Loomis, Sayles & Co., 3/19/11
The market has added a substantial risk premium to the price of oil given the unrest in the Middle East and North Africa. Prices have increased by more than 20% since December 2010; half of that increase occurred during the past three weeks in reaction to unrest spreading to Bahrain, one of the Gulf States. Market participants have raised their probability calculations for black swan events. There may be excess pessimism in the market, as reflected in increased concerns about unrest spreading to the other Gulf States. Those concerns are potentially overblown.

Reframing A Case For High Yield Bonds
by Tom Fahey of Loomis, Sayles & Co., 12/4/10
Our contention is that high yield bonds are likely to continue to be a respectable store of value. We base this on their valuation profile and fixed income characteristics, which tend to stand out in the midst of a protracted economic recovery and ongoing deleveraging process that could have significant implications for economic growth and yield potential.
12 results found.