The LIBOR Transition
Planning for the market’s transition from the London Interbank Offered Rate (LIBOR) to the Secured Overnight Financing Rate (SOFR) has accelerated recently, but substantial uncertainty remains as to how and when the conversion of nearly $370 trillion of financial products will occur.
The Fed's Challenge of Squaring the Dots
Since December 2018, the Federal Reserve’s change in stance stabilized the markets, breaking a cycle of tightening financial conditions that threatened the wellbeing of the mature economic expansion.
Applications of ESG to Securitized Assets
We believe that securitized asset investors who ignore ESG considerations are failing to heed some of the most important lessons of the global financial crisis.
Fed Shift from "Put" to "Collar" Bodes Well for Spread Product
In this paper, PGIM Fixed Income discusses the result of the Fed's "market-collar", which may well be a prolonged economic expansion with perhaps a volatile, but extended, cycle for spread-product outperformance versus government securities.