A Bird's-Eye View of the Bond Market

Feb 27 2024 2

A Bird's-Eye View of the Bond Market Podcast artwork

A Bird’s-Eye View of the Bond Market offers real-time analysis and commentary covering the major themes and issues driving the U.S. investment grade markets. Subscribers will have the chance to hear from different members of the Merganser investment team, allowing listeners the opportunity to gain valuable perspective on corporate credit, securitized, government markets and the economy. The idea behind the creation of this podcast is simple: offer our listeners a consistent source of valuable fixed income market intelligence at the click of a button.

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All Things Treasury

Feb 27 2024 12 mins

Explore the dynamic world of Treasury Markets with our latest podcast episode. Tune in as Mike Cloutier, Chief Marketing Officer at Merganser Capital engages in an insightful conversation with Todd Copenhaver, Deputy Chief Investment Officer, and Saloni Daga, Credit Analyst. Together, they delve deeper into the historic highs of US Government Debt, future refunding needs, potential

Take Five – Market Recap with our CIO

Sep 18 2023 7 mins

Need a brief review of the fixed income markets as we head into year-end? This five-minute Q&A with Merganser’s CIO, Andy Smock, covers it all, including the path of interest rates, spread moves year-to-date, issuance patterns, our views across investment grade sectors, and our outlook for the macro environment.

Impacts of Chasing Yield with an Inverted Curve

May 23 2023 6 mins

In fixed income, it is generally understood that bondholders are paid more to lend for longer, but with an inverted yield curve, this theory is being put to the test. How then, should investors position their short-term reserves in the current environment? Pile into money market funds which are currently outyielding short duration bond funds? Based on our analysis, the answer is no

Debt Ceiling Talks, Again

Feb 07 2023 11 mins

It has been an eventful start to 2023, and among many topics, the Debt Ceiling is once again in the spotlight. Hear from host Mike Cloutier, Merganser’s Chief Marketing Officer, as he interviews Andy Smock, Merganser’s Chief Investment Officer, to discuss one of the key risks facing fixed income investors in 2023 – the US Treasury Debt Limit. Together, they summarize the curr

Multi-Family Real Estate Update and CMBS Performance Implications

Dec 06 2022 15 mins

In this episode, David Fishman, Merganser Deputy CIO and CMBS analyst, interviews Eric Draeger, CIO of Berkshire Residential Investments (“Berkshire”) on the state of the multi-family residential real estate market. Among other topics, they discuss multifamily housing fundamentals, rising rates and the health of the US consumer, as we brace for a potential economic recession in

Take Five – Q&A with our CIO

Nov 10 2022 4 mins

Is now a good time to invest in the front-end of the yield curve? This five-minute Q&A with Merganser’s CIO, Andy Smock, discusses just that. Andy shares a few thoughts on the dramatic year thus far for fixed income markets, how relative value has shifted and a look forward over the next twelve months. He also provides some insight into the current macro backdrop and the Fed�

After an Empty First Half, Where Should Income Thirsty Investors Look?

Aug 23 2022 14 mins

In this episode, Andy Smock, CIO and Todd Copenhaver, Deputy CIO break down the rapid repricing of fixed income assets year to date. They discuss recent inflation data, potential next steps from the Fed and how higher yields on the front-end of the curve have shifted the value proposition.

Any TIPS on a Good Inflation Hedge?

Mar 23 2022 10 mins

U.S. inflation is at its highest level in four decades and making investors nervous. In episode #11, we discuss the mechanics of a commonly known inflation hedge, Treasury Inflation-Protected Securities, or TIPS, and analyze how these fixed income instruments perform in inflationary environments relative to alternative hedges.

Inflation is Here... To Stay?

Jul 26 2021 14 mins

In this episode, Merganser’s CIO, Andy Smock, reviews the impact of inflation on fixed income portfolios. He unpacks possible reasons for what’s driving recent price increases, and why interest rates are moving in the opposite direction. We end by discussing how the team at Merganser is shifting portfolios to insulate against these possible risks.

GSE’s Approach to ESG and Other Insights

May 12 2021 11 mins

In this episode, Portfolio Manager and Chief ESG officer, Jennifer Wynn, discusses Merganser’s ESG initiatives broadly at the firm and within the investment process. Deputy CIO and Portfolio Manager, Dave Fishman, explains the state of structured products as it relates to recent issuance patterns across sub-sectors.