According to Daniel Oh, remittance data for asset-backed securities suggests borrowers have embraced Covid-19 assistance programs, mitigating the initial impact of the downturn. However, if the recovery is slow he expects delinquencies and charge-offs to increase.
The Muni Market’s Fed-sponsored Round Trip—Thornburg
Since the dizzying spring spikes in municipal market bond yields, the Federal Reserve’s stimulus programs have fueled a rebound in muni market prices to...
Examining China’s COVID-19 Recovery and Ailing US Relations—Thornburg
Some segments of China’s economy have recovered to pre-coronavirus levels, while others lag and a few have seen accelerated growth. Portfolio Manager Le...