Fixed Income

Are Interest Rate Fixings Fixed? An Analysis of LIBOR and EURIBOR

Social Science Research Network

Professors use statistical models to assess manipulation of LIBOR and EURIBOR They find that more rate submissions would reduce the ability to manipulate the rates. [Registration required.]

Bank Credit Quality after the Great Recession: An Interview with an Insider’s Outsider

Take 15 Series

After the Great Recession investors are still searching for answers on how to best examine and understand bank credit quality. Invictus Group’s CEO Kamal Mustafa offers not just perspective on the problem but genuine solutions.

Converging World: Countries’ Fiscal Policies Are Becoming More Similar

CFA Digest

Since 1994, spending by developed countries has exceeded their tax revenue and much of the developed world is facing a budget deficit as a result. The author discusses this situation in developed countries as well as the fact that fiscal policies around the world appear to be converging.

Fixed-Income Portfolio Benchmarks: Time for a Re-evaluation?

Webcast

Mike Zelouf, CFA, explains why market-cap-weighted bond indices may not be good benchmarks and why alternative benchmarks do not solve all problems.

Challenges for the High-Yield Bond Markets

Conference Proceedings Quarterly

Currently, it is hard to make a case that a bubble exists in high-yield bonds. The high-yield market, regardless of its many challenges, offers relative-value opportunities for investors, but prudence and thorough analysis are paramount.