National Investment Services covers fixed income market topics in research publications.

QUARTERLY REVIEW

Q1 2021 Fixed Income Review

It is hard to believe that it has been over one-year since COVID-19 became a household word while changing the world forever. During that time, the markets sank and rebounded as investors reacted to heightened uncertainty, reassessed liquidity and risk tolerances, and finally looked forward. During the first quarter of 2021, fixed income investors finally […]

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QUARTERLY REVIEW

Q4 2020 Fixed Income Review

Thanks in large part to approved vaccines, the fixed income market managed to navigate worsening COVID statistics, a contested election and an uncertain fiscal stimulus package. This “risk-on” rally was apparent in many markets and not just the fixed income arena. Stocks and commodities made heady gains, while interest rates started to creep higher. Our […]

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QUARTERLY REVIEW

Q3 2020 Fixed Income Review

Many sectors within the fixed income markets enjoyed gains as interest rates stayed relatively steady and bond spreads tightened as investors grew more comfortable with the scope and trajectory of the current economic recovery. Despite a robust new issue calendar in the middle of a usually weak season for deals, corporate bonds managed to gain […]

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NEWSLETTERS

National Investment Services Q4 Update

Although the pandemic has altered prior ways of doing business, National Investment Services continues to move forward. Attached is a letter announcing topics of interest as we prepare to transition into 2021: Letter to Clients and Consultants And, please see the official press release from American Beacon regarding the NIS Core Plus Bond Fund here. […]

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QUARTERLY REVIEW

Q2 2020 Fixed Income Review

Risk markets enjoyed a very strong second quarter as investors looked past the Covid-related human, societal and economic damage, along with meaningful social discontent and a highly partisan political backdrop. The phrase “don’t fight the Fed” has rarely seemed so true and bond investors witnessed this positive sentiment push returns almost 3% higher as corporate […]

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ARCHIVED NEWSLETTERS

Bartlett J. McCartin III Day in Chicago

NIS Principal and Managing Partner, Bart McCartin, has been honored by the Mayor of Chicago in recognition of his distinguished leadership and limitless contributions to Chicago’s children. Read the full article here: Bart Boys and Girls Club of Chicago

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NEWSLETTERS

Federal Review: April 2020

Click on the article to below to read about the federal and fiscal programs’ impact on fixed income. Fed Review April 2020.4.16

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QUARTERLY REVIEW

Q1 2020 Fixed Income Review

For the latest NIS Investment Review, click the link below: NIS Newsletter Q12020

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NEWSLETTERS

COVID-19: Market Impact Update

Click the link for a Market Impact Update as of March 24, 2020 from our Chief Strategy Officer, Mark Anderson, CFA. Please feel free to contact us with any follow-up questions. NIS – Coronavirus Market Impact Update – 3.24.20

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NEWSLETTERS

Stock Market Update

Click the link for a Stock Market update as of March 17, 2020 from our Chief Strategy Officer, Mark Anderson, CFA. Please feel free to contact us with any follow-up questions. NIS – Liquidity and Color 3.17.2020  

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ARCHIVED NEWSLETTERS

COVID-19: A Message From Our CEO

Click the link below to read a firm update from our CEO, Bob Brooks, regarding the COVID-19 Virus. COVID-19 Letter

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QUARTERLY REVIEW

Q4 2019 Fixed Income Review

With much of the worry surrounding trade off the table from last year, the market could be challenged to come up with an excuse for a large sell-off. We do not plan to go significantly underweight corporate bonds given our economic outlook, but we recognize that valuations and a desire to err on the side […]

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ARCHIVED NEWSLETTERS

NIS/Resolute Investment Manager Partnership Complete

As of 12/30/19, the partnership between NIS and Resolute is complete. Please click the link below to read the letter from our CEO, Bob Brooks. NIS Resolute Partnership

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ARCHIVED NEWSLETTERS

A Letter From the CEO

Read the letter from Robert P. Brooks regarding the NIS/Resolute press release: Letter from Bob Brooks

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ARCHIVED NEWSLETTERS

NIS/Resolute Investment Manager Partnership Announcement

Full press release here: NIS-Resolute Press Release

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ARCHIVED QUARTERLY REVIEW

Q3 2019 Fixed Income Review

Facing a slowing manufacturing backdrop, escalated trade tensions and growing uncertainties, the Federal Reserve delivered two well-telegraphed interest rate cuts during the third quarter. Bond investors were the direct beneficiaries of a more dovish-leaning Fed as the Bloomberg Barclays Aggregate Index gained 2.27% on the quarter, led by strong performance in the corporate sector. U.S. […]

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ARCHIVED QUARTERLY REVIEW

Q2 2019 Fixed Income Review

A dovish-leaning Federal Reserve supported risk markets during the second quarter as investors largely shrugged off the ongoing trade war and heightened tensions in the Middle East. Bond investors enjoyed favorable returns across most sectors as the Bloomberg Barclays Aggregate index gained 3.08% on the quarter, led by a strong performance in the corporate sector. […]

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ARCHIVED QUARTERLY REVIEW

Q4 2018 Fixed Income Review

A risk-off tone dominated the financial markets during the quarter as stock indices tanked and interest rates shifted lower on heightened volatility due to uncertainties in the global economy, political leadership and confusing commentary from the Federal Reserve. The Bloomberg Barclays Aggregate Index gained 1.64% in the quarter to finish 2018 with a return of […]

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ARCHIVED QUARTERLY REVIEW

Q3 2018 Fixed Income Review

Bonds finished the quarter essentially flat as interest rates drifted higher in September on a steady U.S. economy and another bump in the Fed Funds rate. The Bloomberg Barclays Aggregate Index gained just 0.02%, with corporate bonds leading the way. Diversification was once again a driver to our index out performance, as corporates, munis, ABS and […]

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ARCHIVED QUARTERLY REVIEW

Q2 2018 Fixed Income Review

Bonds finished the quarter a bit lower as the market continues to wrestle with higher interest rates and uncertainty surrounding trade. The Bloomberg Barclays Aggregate Index lost almost 0.16% to start the year as the FED increased their benchmark yield range by another 25 basis points.

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ARCHIVED QUARTERLY REVIEW

Q1 2018 Fixed Income Review

The Bloomberg Barclays Aggregate Index lost almost 1.5% to start the year as rates across the curve followed the Fed’s path higher. An uptick in both equity volatility and trade war rhetoric pushed credit spreads wider and corporate bonds lower. There were few places to hide, but diversification helped our relative returns. A look at […]

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ARCHIVED QUARTERLY REVIEW

Q4 2017 Fixed Income Review

The Bloomberg Barclays Aggregate Index gained 0.39% during the fourth quarter as the fixed income market wrestled with the thought of higher interest rates and a less accommodative Federal Reserve to start the New Year. Digging deeper into index performance, corporate bonds again led the way with strength in the utilities and industrial sectors.

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ARCHIVED QUARTERLY REVIEW

Q3 2017 Fixed Income Review

The Bloomberg Barclays Aggregate Index gained 0.85% during the third quarter as bonds provided investors with steady returns amidst escalating North Korean tensions and an unfortunate bevy of natural disasters. Fund flow data indicates that money continues to move into the broad market, helping mitigate some of the interest rate-driven volatility that appeared in late […]

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ARCHIVED QUARTERLY REVIEW

Q2 2017 Fixed Income Review

Bonds rallied sharply this quarter as investors continue to place yield into their portfolios. While this unrelenting buying made for a rather uneventful quarter from a spread volatility standpoint, it certainly bolstered fixed income returns. The Bloomberg Barclays Aggregate Index gained 1.45% despite another Federal Reserve interest rate hike and record equity prices.

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ARCHIVED QUARTERLY REVIEW

Q1 2017 Fixed Income Review

The bond market regained its footing this quarter as interest rates moved in a narrow range despite improving economic conditions and a Fed rate hike. The Bloomberg Barclays Aggregate Index gained 82 basis points to start the year with longer duration and corporate assets performing best.

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ARCHIVED QUARTERLY REVIEW

Q4 2016 Fixed Income Review

Well it finally happened, and we are not talking about the Federal Reserve making a move or the reality TV star in the White House, but rather the fact that interest rates gapped higher. Unfortunately for bond investors, this was not a normal drift upward but something that the market has not witnessed in about […]

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ARCHIVED QUARTERLY REVIEW

Q3 2016 Fixed Income Review

Bonds struggled to return their coupon but managed a positive showing. Investors wrestled with an improving economic backdrop and a Federal Reserve sending mixed-signals. The Barclays Aggregate Index finished 0.46% higher for the quarter, driving a 5.8% year-to-date gain.

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ARCHIVED NEWSLETTERS

NIS Preferred Stock Fund Q2-16 Brexit Impact Comments

The second quarter ended with a market uptick in the volatility as UK voters surprised global markets by opting to leave the EU.

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ARCHIVED QUARTERLY REVIEW

Q2 2016 Fixed Income Review

Bonds continued their march higher as Treasury yields gapped lower on European growth concerns, spurred by the surprise Brexit vote for the United Kingdom to leave the E.U. The broad- based bond market ended the quarter on a very strong note as investors flocked to safe-haven assets. The Barclays Aggregate Index finished 2.21% higher for […]

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ARCHIVED NEWSLETTERS

Analysis on Brexit

To Our Clients and Consultants: The UK’s EU referendum result was not what we anticipated, as we own less treasury bonds than desired (the only assets that are up at the moment). However, we are otherwise conservatively positioned and do not expect any company or issue specific problems with any asset that we own. If […]

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ARCHIVED NEWSLETTERS

Fed Minutes Release and its Implications

To Our Clients and Consultants: Yesterday the bond market traded off on details released from the most recent FOMC (Federal Open Market Committee) meeting. The bond market most likely reacted to two sections in the report. The first detailed the Federal Reserve’s communications and subsequent market reactions. Basically, the market previously interpreted little chance of […]

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ARCHIVED QUARTERLY REVIEW

Q1 2016 Fixed Income Review

The bond market once again showed its resiliency as the Barclays Aggregate Index gained just over 3% during the quarter. This solid performance came as a surprise to many (including this author), as Treasury yields drifted sharply lower in the first two months of the year as the “risk-off” trade gained steam on global growth […]

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