News, insights and thought leadership from the City Different team.
9/10 is an exceptional mark in almost all applications. If a restaurant has a 9/10 on Yelp or Foursquare (yes, Foursquare is still an excellent restaurant rating app), it means the restaurant is...
There’s a critical decision you have to make if you want (or already have) exposure to private equity as a part of your portfolio — does your chosen manager deploy capital through a fund structure...
Every few years, it seems like the municipal bond market can’t resist a good scare story. This time, it’s the potential for Congress to alter the tax-exempt status of muni bonds — an idea making the...
Explaining Wednesday’s complete market route. All markets, be they equity or fixed income, took a proverbial kick in the shorts on Wednesday. The S&P 500 index finished the day 178.45 points lower...
Given Trump’s upcoming policy guidance, there are reasons to believe that inflation could soon be on the rise. This begs the question, “Are we in a temporary inflation lull? To answer that, let’s...
We believe that a strategic, actively managed approach to fixed income investing often outperforms the alternative. You might be familiar with active management when it comes to equities, but what...
Much as truly active equity investing can result in greater returns for investors (even net of fees), so too can active management of fixed income securities. We’re big believers in the power of...
A decade ago, fixed income trade analysis was like a country club — very few people had access to it, the asymmetry of information was staggering, and so much of the market was effectively word of...
We think it’s a good time to buy bonds because: The markets’ irrational exuberance about rate cuts in 2024 has been exercised. We started the year expecting 6-7 rate cuts, which dwindled to 2-3 in...
Separately Managed Accounts (SMAs) have grown from 3% of the total Municipal Market to approximately 23% market share in the last decade (as of 3/31/2023). Mutual funds, on the other hand, make up...
Size can have its advantages — when going with a bigger firm; you may be hoping to experience lower fees because of volume and scale. But, it can also leave many advisors feeling like a “drop in the...
“Don't fight the Fed” — it’s an adage for a reason, and it’s one we believe in. Why? Because history has mostly demonstrated the Federal Reserve, with its monetary policy tools, is overwhelmingly...
Last week, the Fed announced that it would not raise the Fed Funds rate in September. By our way of thinking, though, they left the door open for future increases (data dependent). This left us...
