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2018年7月9日

 
Important Notices and Disclosures

Investing involves risk, including the possible loss of principal. Investments in fixed-income instruments are subject to the possibility that interest rates could rise, causing their values to decline. Investors in asset-backed securities (structured products), including collateralized loan obligations (“CLOs”), generally receive payments that are part interest and part return of principal. These payments may vary based on the rate loans are repaid. Some asset-backed securities may have structures that make their reaction to interest rates and other factors difficult to predict, making their prices volatile and they are subject to liquidity and valuation risk. CLOs bear similar risks to investing in loans directly, such as credit, interest rate, counterparty, prepayment, liquidity, and valuation risks. Loans are often below investment grade, may be unrated, and typically offer a fixed or floating interest rate. High yield and unrated debt securities are at a greater risk of default than investment grade bonds and may be less liquid, which may increase volatility. This material is distributed or presented for informational or educational purposes only and should not be considered a recommendation of any particular security, strategy or investment product, or as investing advice of any kind. This material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. The content contained herein is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.

This material contains opinions of the author or speaker, but not necessarily those of Guggenheim Partners or its subsidiaries. The opinions contained herein are subject to change without notice. Forward looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy. No part of this material may be reproduced or referred to in any form, without express written permission of Guggenheim Partners, LLC. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance is not indicative of future results.

© 2018 Guggenheim Partners, LLC. All rights reserved. Guggenheim, Guggenheim Partners and Innovative Solutions. Enduring Values. are registered trademarks of Guggenheim Capital, LLC.

 

次のリセッションを予測する: 利下げの効果はいかに - Featured Perspectives
2019年9月17日

次のリセッションを予測する: 利下げの効果はいかに

弊社のリセッションモデルがいったん現在のレベルに達すると、積極的な政策対応によってリセッションを遅らせることはできても、回避することはできません。

流動性が牽引した上昇相場の向こう側に見えるもの - Featured Perspectives
2019年8月22日

流動性が牽引した上昇相場の向こう側に見えるもの

流動性が牽引した上昇相場の中でクレジット・スプレッドは縮小する可能性があります。 しかし歴史は現時点からスプレッドはむしろさらに拡大する可能性を示唆しています。

FRBが仕掛けるシュガーハイ - Featured Perspectives
2019年7月29日

FRBが仕掛けるシュガーハイ

リセッションを避けるのに必要なのは利下げではなく、合理的な移民政策です。