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In-depth investment research and commentary from Litman Gregory and our Research Alliance

Apr 19, 2019 Research Alliance It's Our Turn—Osterweis Capital Management Total Return Market Outlook

Looking forward, we are loath to invest in the belly of the yield curve—specifically maturities between three and seven years.

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Mar 21, 2019 Research Alliance Don’t Believe the Hype—Osterweis Capital Management

Conventional wisdom dictates that recessions occur every time the yield curve inverts, but in our view that is an oversimplification.

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Mar 21, 2019 Research Alliance Video: Q&A with Carl Kaufman and Eddy Vataru—Osterweis Capital Management

In this short interview, Carl Kaufman, our Co-CEO, asks Eddy Vataru, lead portfolio manager of our Total Return Fund (OSTRX), to share his views about the investment-grade fixed-income market, including the significance of an inverted yield curve, the state of the BBB sector, and the likely direction of interest rates.

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Mar 07, 2019 Research Alliance Late-Cycle Drama Is Unfolding—Guggenheim Investments

Risk assets will likely enjoy another rally while the Fed stays on hold, but the pause will only allow excesses to become more pronounced.

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Jan 30, 2019 Research Alliance Osterweis Strategic Income Fund Q4 2018 Advisor Teleconference Replay

If you missed the Osterweis Strategic Income Fund quarterly update teleconference, you can listen to the replay.

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Jan 28, 2019 Research Alliance Not as BBBad as You’ve Heard—Osterweis Capital Management

BBB issuers have received a lot of bad press recently, but John Sheehan believes the perception is worse than the reality and that credit selection is key to finding good risk adjusted returns within the diverse BBB universe.

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Jan 25, 2019 Research Alliance Headwinds Are Blowing, But the Ship Sails Onward—Osterweis Capital Management

We believe yield curve flattening at this stage is not a precursor to recession unless there is a specific driver for recession, which we don't see at this time.

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Jan 24, 2019 Research Alliance Will the Real Market Please Stand Up—Osterweis Strategic Income Outlook

We have been taking advantage of the flatter yield curve by increasing our holdings in commercial paper, short-dated investment-grade floating-rate notes, and some higher-rated shorter-term bonds.

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Jan 18, 2019 Research Alliance Up the Escalator, Down the Elevator—Guggenheim Investments

An uptick in corporate defaults in 2019 will mark the beginning of a prolonged period of stress in the corporate bond market.

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Nov 20, 2018 Research Alliance Fixed-Income Outlook: Jogging to the Exits—Guggenheim Investments

Preparing for the market turbulence that typically occurs in the run up to a recession.

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