Blog

By Sean Rogan, Paul Svoboda
Broadly, we consider current mortgage loan quality within the Australian banking sector to be at historically high levels, and arrears near cyclical lows. The most recent data includes reporting by the banks, plus Standard & Poor’s RMBS Performance Watch as of December 31, 2018.
By Judith Ewald
In a surprising and possibly precedent-setting decision in January, a ruling was made that Puerto Rico did not have to pay the special revenue bonds issued by its Highways and Transportation Authority.
By Robert E. Amodeo
Much has been said lately about the flatness of the yield curve. Municipal bonds, with their own peculiar yield curve, have also exhibited remarkable flatness in recent months.
April 17, 2019
ECONOMY
By Chia-Liang Lian
This week’s 1Q19 GDP report for China showed that the economy grew 6.4% year-over-year, the same pace as the previous quarter and matching the post-Lehman low in 1Q09. Nonetheless, the outcome surprised on the upside (consensus 6.3%).
April 16, 2019
MARKETS
By Desmond Soon
The Republic of Indonesia goes to the polls on Wednesday, April 17, to elect a President, Vice President and Members of Parliament. Indonesians based overseas have already voted in droves at foreign voting centers, but on Wednesday 193 million Indonesians will cast their ballots in more than 80,000 polling stations spread across this vast archipelago of 17,000 islands.
April 12, 2019
ECONOMY
By Michael J. Bazdarich, PhD
Last year, the Fed spent a lot of time and effort arguing that it needed to raise interest rates to get them back to “neutral” levels, to where they were no longer stimulating the economy. While stock market and global growth concerns have put this issue on the back burner, it is sure to resurface again soon.
By John L. Bellows, PhD
Herman Cain clearly has President Trump’s confidence, but it’s yet to be seen whether a more skeptical Senate will vote for his confirmation to the Federal Reserve Board (the Fed Board). The prospects for Mr. Cain’s confirmation are in constant flux.
By Ahmet E. Kocagil, PhD
Western Asset firmly believes that a strong risk management culture is fundamental to a successful investment management record. As Benjamin Graham once said, “the essence of investment management is the management of risks, not the management of returns.”
April 03, 2019
MARKETS
By Gordon S. Brown
So this is what happens when you leave it to UK Parliament to decide! With the government repeatedly failing to secure a majority for the Brexit deal it agreed to with the EU, on Monday Parliament “took control” of the political agenda to try and find common ground on the way forward.
By Amit Chopra, Julien Scholnick
Discussions about an inverted yield curve—and whether it portends a recession—are back in the spotlight. Of particular interest is the spread between 3-month T-bills and 10-year USTs, as this curve went negative on March 23.
March 26, 2019
MARKETS
By Robert O. Abad
Three storylines dominate today’s financial headlines: slowing global growth, rising debt levels and the extended credit cycle. Perhaps they’ve convinced you that an imminent crisis is lurking around the corner.

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Western Asset is a leading fixed-income asset manager with nearly 50 years of investment experience through multiple market cycles. Our investment philosophy focuses on identifying long-term fundamental value by using diversified strategies sourced from our investment professionals around the globe.

Our blog leverages the Firm’s award-winning investment capabilities and vast intellectual capital to share our views on timely topics with our clients and community. From market events to trends in asset management, the blog delivers research and analysis every week.

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