RVNU News and Press, Xtrackers Municipal Infrastructure Revenue Bond From 01/19/23

Summary Active fixed-income ETFs allow portfolio managers to stay nimble and avoid sectors and parts of the credit spectrum that might encounter increased stress. There are now a growing number of dividend ETFs that are focused on yield and offer responsiveness to evolving sector dynami...

Summary While upgrades outpaced downgrades in 2022, we expect an even more stable rating environment in 2023. Q3 was a relatively busy quarter for state rating actions — in Q4 there was one rating change and a couple of outlook changes. Moody’s updated its methodology ...

Summary In 2022, historically high inflation led global central banks to make a series of bold tightening moves. In the U.S., it’s our view that inflation may gradually move toward the Federal Reserve’s (Fed) 2% goal over the year. With a hamstrung Fed, the global outl...

Summary We believe that 2023 will be a much better year for municipal bonds as they should resume their historical role of income generation, capital preservation and offset to equity volatility. Muni investors will need to leverage the market’s many tools as conditions shift. ...

Summary The bond market began its own comeback during the fall with the Consumer Price Index report of November 10, reporting on October’s inflation. Longer-term municipal bonds have also seen a drop in yields. Most bond market selloffs of the magnitude we have witnessed this...

Summary As the Fed steps away from being the largest buyer of longer-maturity Treasuries, new buyers will have to step in to fill this void, which may lead to continued volatility in longer-term U.S. Treasury rates. Amid the recent spike in rates, the volatility of lower-coupon bonds in...

Summary Rate hikes and tighter financial conditions drove fixed-income returns lower in 2022. The broad repricing of bonds and the higher starting yields we have now can help insulate investors from further losses. If we look at international bonds, this is probably the first ...

Summary Social Bonds represent the majority of ESG issuance. General purpose represents the largest use of proceeds amongst ESG issuance this quarter. Majority of ESG issuance in the third quarter of 2022 has used a verifier. During the third quarter, Municipal issua...

Summary Barclays Aggregate is down almost as much as the S&P 500 YTD. As of 10/31/22, the YTD return on high yield is far better than the return on corporate high-grade. There is relative value being created in the various bond market asset classes. Looking at th...

Summary The risk of recession will weigh on muni credit; however, we continue to be constructive on munis, given improved budgeting practices and accumulated reserves or rainy-day funds. The still-tight labor market should keep unemployment low, and massive amounts of federal fund...