Smith Capital Investors News

MBS Performance – Fact or Fiction?

This year has started off poorly for fixed Income. However, MBS has been highlighted by many as one of the few bright spots. We review MBS performance and look at factors for clues if this outperformance might continue.

read more

The Compensation Ratio

Back in 1999 one of our team members published a U.S. Portfolio Strategy piece. It centered on: A Volatility Framework For The Corporate Market.

read more

The Current State of the Treasury Market

The market seems to be anxiously awaiting an extreme move from Treasuries. The tone on rates has moved decidedly less bullish as the consensus embraces the view that rates will gradually move higher as the global economy recovers. While we do believe there will be a period in 2021 that takes the long bond back to pre-COVID yield levels (a steeper curve), we believe market volatility remains present in the short-term as event risk continues to be front and center.

read more