FJNK News and Press, Pacific Global Focused High Yield ETF From 07/14/22

Investors are grappling with difficult decisions in the face of rising rates, stubborn inflation and slowing growth. Short-duration bonds capture 85% of the broad market yield but have historically exhibited approximately 35% less volatility. In summary, we believe short-duration ...

Despite recent market volatility, our base case outlook for U.S. non-investment grade credit defaults remains constructive. The foundation for a low-default environment has been long in the making. We believe current non-investment grade spreads more than compensate for what conti...

Last quarter, the Asset Allocation Committee adopted an underweight view on global equities and leaned more heavily into cash, commodities and other alternative, diversifying assets. The Committee’s views on real and alternative assets are unchanged this quarter. The Asset ...

Investors see further Fed rate rises, but believe they will start moderating in size after September. Investors continue to see some risks to credit markets, with views that fundamentals will deteriorate and spreads will generally widen somewhat. There is uncertainty around when a...

Debt trading at yields to maturity above 12% has increased by tenfold since January, and is creating compelling opportunities for special situations investors. Secondary trading levels for loans and bonds often reflect underperformance well before rating agency downgrades or defaults ...

Since the Fed first implemented its “zero interest rate policy” in the wake of the financial crisis, investors have been left with a bond market landscape that presented many challenges from an income perspective. With the dynamic duo of inflation and a Fed tightening po...

If inflation and rate increases do not rise above current market expectations, however, there is a case for longer-duration instruments. Asset allocation models are well documented across the investment universe, and portfolio diversification is a widely accepted principle. Histor...

Inflation remains top of mind for investors and policymakers alike. Tighter monetary regimes and a rising risk of recession are typical hazards for corporate debt. Deglobalization may gather steam. By Scott DiMaggio, CFA & Gershon M. Distenfeld, CFA It's be...

The rhythm of the markets has gradually, but permanently, changed over the last 40 years. Despite the (relatively) positive trend in reopening sectors of the economy, the labor market is showing signs of slowing. For now, inflation is the “singular mandate” of major ...

We remain cautious in equities, but in fixed income, investors now have more yield and credit spread to work with. We think that the Federal Reserve’s rate hikes for this cycle are becoming increasingly priced into the yield curve. Our fixed income team has stress-tested fo...