Shows / Basis Points
Basis Points
Macro commentary and expert-led discussions highlight what’s happening now in fixed income investing, so you can prepare for what’s next. Investing involves risks including loss of principal. This material represents the opinions of the participants at a specific time and is not intended to forecast future events or guarantee future results and should not be relied upon as investment advice. Kevin Flanagan is a registered rep of Foreside Fund Services, LLC.
Episodes
- Basis Points
Income Without the Volatility…or Credit Exposure
Volatility in U.S. Treasury yields hasn’t spared any corner of the fixed income market, except one. Kevin Flanagan explains why Treasury Floating Rate Notes…
- Basis Points
Fed Watch: Still Waiting
Once again, the Fed decided to keep rates unchanged at today’s FOMC meeting, leaving the Fed Funds trading range at 4.25%–4.50%. This week on Basis Points…
- Basis Points
Positioning Portfolios for a New Trade Regime
Global trade is being redefined through structural tariffs and new alliances. This week on Basis Points, Kevin Flanagan is joined by WisdomTree Macro…
- Basis Points
Re-Positioning in an Active Core Strategy
April brought heightened volatility to the financial markets, reinforcing the value of an active-passive barbell strategy for fixed income investing. This week…
- Basis Points
Introducing a Time-Tested Solution for Municipals
With interest rates returning to more normalized levels, municipal bond yields are drawing renewed attention—and investors are looking for time-tested…
- Basis Points
Trump, Powell & Rates: The Pre-April 2nd Edition
Uncertainty remains the defining theme as investors await the April 2nd tariff announcement. In the latest episode of Basis Points, Kevin Flanagan is joined by…
- Basis Points
Fed Watch: Let’s Just Wait and See
The Fed just hit pause, again, at the March FOMC meeting, keeping rates steady at 4.25%-4.50% amid economic uncertainty. With policymakers in “wait and see”…
- Basis Points
Discounting the D.C. Effect in the Bond Market
The bond market can turn on a dime, and 2025 is proving to be no exception. This week on Basis Points, Kevin Flanagan unpacks how tariff uncertainty and…
- Basis Points
Extending Duration Has Been a Fleeting Strategy
Bond market volatility has made extending duration an unreliable strategy, with the U.S. Treasury 10-year yield swinging between 3.6% and 5% over the past 18…
- Basis Points
Public vs. Private Credit: Finding Their Lanes in 2025
Private credit has surged in popularity, but how does it stack up against public credit heading into 2025? This week on Basis Points, Kevin Flanagan leads a…
- Basis Points
Rate Cuts: That Was Then, This Is Now
The U.S. labor market is proving more resilient than expected, with job growth on the rise just months after the Fed’s first rate cut. This week on Basis…
- Basis Points
Trump, Powell and Rates: A Look Ahead
President Trump’s second term has reignited economic policy shifts, including tariffs and executive orders, while Fed Chair Jerome Powell remains cautious on…
- Basis Points
Fed Watch: A Pause That Refreshes?
For the first time since September, the Federal Reserve kept rates unchanged at the January FOMC meeting, holding the Fed Funds target range at 4.25%–4.50%…
- Basis Points
Just How ‘Rich’ is U.S. Credit
U.S. corporate bonds are currently exhibiting historically tight spreads, with investment-grade and high-yield spreads at +80bp and +270bp, respectively…
- Basis Points
2025: The Year of ‘Un-inverted’ Yield Curves
For the first time in years, U.S. Treasury yield curves are back in positive territory. This week on the Basis Points podcast, Kevin Flanagan explains how the…
- Basis Points
Five Alive: Where is the Treasury 10-Year Yield Headed?
Could the U.S. Treasury 10-Year yields break the 5% threshold in 2025? This week on Basis Points, Kevin Flanagan explains why a modest U.S. economic outlook…
- Basis Points
Fed Watch: A 25bp Stocking Stuffer
As expected, the Fed delivered a 25-basis point rate cut at the December FOMC meeting, but what comes next is far from clear. This week on the Basis Points…
- Basis Points
A Normal Rate Setting Calls for Active Passive/Fixed Income
With U.S. interest rates back to “normal” levels, fixed income investors face a landscape many haven’t seen in years. This week on the Basis Points podcast…
- Basis Points
A Passive Income Solution Without the Volatility
Treasury Floating Rate Notes provide income without taking on duration risk—a key advantage while the 3-month/10-year Treasury yield curve remains inverted…
- Basis Points
Re-Positioning in an Active Core Strategy
Navigating today’s fixed income market is about more than timing—it’s about strategy. This week on the Basis Points podcast, Kevin Flanagan highlights the…
- Basis Points
A Post-Election/Post-Fed Look at Treasuries
The U.S. Treasury market reacted sharply to last week’s election and Fed meeting. This week on the Basis Points podcast, Kevin Flanagan unpacks why Treasury…
- Basis Points
Fed Watch: Speed Limit 25
After a bold 50-basis point (bp) cut in September, the Fed dialed down to a 25-bp rate reduction at today’s FOMC meeting. This week on the Basis Points…
- Basis Points
Putting the ‘Plus’ in a Barbell Plus Strategy
A barbell strategy builds a strong foundation for a bond portfolio, but how can investors enhance that? This week on the Basis Points podcast, Kevin Flanagan…
- Basis Points
Sorry, Your Ticket Has Not Been Validated
The U.S. Treasury market has experienced two significant rallies over the past year, with investors waiting for a validation of declining yields. This week on…
- Basis Points
Unlocking the Potential of Alternative & Private Credit in Modern Portfolios
The private credit market may be primed for more attention with the start of the latest rate cut cycle. This week on the Basis Points podcast, Kevin Flanagan…
- Basis Points
Money in Motion: A Barbell for Rate Cuts
With the Fed “recalibrating” monetary policy towards rate cuts, the uncertainty now shifts to the timing and magnitude of this easing. In the latest Basis…
- Basis Points
Fed Watch: 'Cut' to the Chase
After much anticipation, the Fed finally delivered a rate cut at today’s FOMC meeting. This week on the Basis Points podcast, Kevin Flanagan examines the Fed’s…
- Basis Points
The Yield Curve ‘Un’Inverts, Well Sort Of
The UST 2-Year/10-Year yield curve has recently shifted into positive territory, while the UST 3-month/10-Year curve remains deeply inverted. This week on a…
- Basis Points
Inflation Now Taking a Backseat
With Labor Day behind us, the focus for money and bond markets shifts to the September FOMC meeting, where Fed Chair Powell has hinted at a rate cut. This week…
- Basis Points
Money in Motion in a New Rate Regime: The Highest Yielding Treasury Security
With rate cuts now definitively expected by the bond market for the September FOMC meeting, some perspective is in order. In the third installment of the Money…
- Basis Points
The Treasury Rally Ticket Needs to be Validated
Will we experience another case of déjà vu and witness another rally in the U.S. Treasury market? This week on the Basis Points podcast, Kevin Flanagan…
- Basis Points
Money in Motion: Playing Along Directly with Rate Cuts
The combination of a dovish Fed Chairman Powell post-FOMC presser and cooling labor market setting provided more fuel for Fed rate cuts. Kevin Flanagan…
- Basis Points
Fed Watch: This Will Be the Last Time
At yesterday's FOMC meeting, the Fed kept rates unchanged, marking the eighth consecutive meeting where policymakers decided to take no action on the rate…
- Basis Points
Money in Motion: Playing the Trade with More Clarity…Rate Cuts
The news of President Biden dropping out of the presidential race has created a whole new layer of uncertainty into the market backdrop. Amid this volatility…
- Basis Points
When Will the Yield Curve ‘Un’Invert?
Lately, a hot topic in the investment space has been the timing of when the UST curve could 'un'invert. This week on the Basis Points podcast, Kevin Flanagan…
- Basis Points
Staking a ‘Claim’ With Inverted Curves
It has been two years since the Treasury yield curve moved into negative territory and the U.S. economy has yet to move into recession territory. This week on…
- Basis Points
Fed Watch: At the Midway Point
At today's FOMC meeting the Fed kept rates unchanged, marking the seventh consecutive FOMC meeting where the policymakers decided to take no action on the rate…
- Basis Points
U.S. Credit: We’re Not In Uncharted Territory
Against the backdrop of a new rate regime in the fixed income landscape, investors have been trying to determine where to allocate funds. Kevin Flanagan dives…
- Basis Points
Data Dependent = Volatility
Fed policy has been the primary force driving the money and bond markets for the past few years. This week on the Basis Points podcast, Kevin Flanagan…
- Basis Points
Let’s Stop With the Rate Hike Talk Already
As we entered this year, all eyes were on the Federal Reserve’s rate-cutting trajectory. The question wasn’t “if” but “when” and “by how much.” However, recent…
- Basis Points
Fed Watch: Push It Back, Push It Back, Way Back
At today's FOMC meeting, the Fed kept rates unchanged, marking the sixth consecutive time the policymakers decided to take no action on the rate front. This…
- Basis Points
Pre-FOMC: A Different Type of Taper
Following last week’s “hotter” than expected CPI release, the sole focus for the money and bond markets was to, yet again, dial back their Fed rate cut…
- Basis Points
How to Navigate the Ever-changing Bond Landscape: The Barbell
The first three months and change of 2024 has brought with it a rather noteworthy shift in bond market sentiment. With Fed policy decision-making remaining…
- Basis Points
Inflation: The Last Mile Could Be the Hardest
As the inflation marathon enters the homestretch, the last mile might not be about to get more difficult. This week on the Basis Points podcast, Kevin Flanagan…
- Basis Points
Fed Watch: The Waiting Game Continues
At today’s FOMC meeting, the Fed did what was widely expected yet again and kept the Fed Funds target unchanged. This week on the Basis Points podcast, Kevin…
- Basis Points
Is the Fed Going to Party Like it's 1995?
With rate cuts now being the primary focus of the markets, the conversation has revolved around when such a move could occur and what the path would ultimately…
- Basis Points
The Bond Market Rally That Has Yet to be Validated
The U.S. economy and inflation have surprised the bond market in 2024, reversing the rally of 2023. This week on the Basis Points podcast, Kevin Flanagan…
- Basis Points
Treasury FRNs: Not Just a Rate Hedge
2024 marks ten years since the issuance of U.S. Treasury (UST) floating rate notes (FRNs) and the launch of our Floating Rate Treasury Fund (USFR). This week…
- Basis Points
U.S. Credit: State of the Market
Yields are high and profit margins have held up well despite rising cost pressures. How will that affect U.S. Credit? What are the drivers behind this growth?…
- Basis Points
Groundhog Day for the Bond Market
Is the U.S. Treasury market experiencing a "Groundhog Day"? This week on the Basis Points podcast, Kevin Flanagan reflects on this time last year when the bond…
- Basis Points
Fed Watch: Not So Fast, My Friend
Today marked the first FOMC meeting of 2024, and as widely expected, the Fed kept the Fed Funds target unchanged. We believe rate cuts are coming, but they do…
- Basis Points
The New Rate Regime: Playing for Rate Cuts
An interesting development occurred last week: Fed 'pushback'. This week on the Basis Points podcast, Kevin Flanagan discusses what this means and what…
- Basis Points
The New Rate Regime: Income Without the Volatility
The money and bond markets appear to be ‘doubling down’ on their optimistic expectations for Fed rate cuts this year, leaving investors to continue to be faced…
- Basis Points
U.S. Fixed Income: Looking Back & Looking Ahead
This year was a roller coaster for fixed income. What's in store for investors in 2024? This week on the Basis Points podcast, Kevin Flanagan provides a 2023…
- Basis Points
How to Play the Fed Pivot in Fixed Income
While the Fed didn't cut rates at the December policy meeting, we believe they will be coming in 2024. This week on the Basis Points podcast, Kevin Flanagan…
- Basis Points
Fed Watch: Pivot, Pivot
At today’s FOMC meeting, the Fed did what was widely expected and kept interest rates unchanged. This week on the Basis Points podcast, Kevin Flanagan provides…
- Basis Points
Entering the Land of Confusion
What action will the Fed take next and where is the market headed? In this special episode of the Basis Points podcast, Kevin Flanagan is joined by Matt…
- Basis Points
Will the Recent Plummet in Treasury Yields Be Validated?
One of the more noteworthy developments in the financial markets of late has been the plunge in U.S. Treasury (UST) yields. This week on the Basis Points…
- Basis Points
Income Sans the Volatility…A Year Later
We believe investors are being faced with a new rate regime as we get ready to enter 2024. This week on the Basis Points podcast, Kevin Flanagan surveys the…
- Basis Points
Harvesting Losses into a Field of Opportunity
As we approach the end of 2023, investors may want to take stock of their fixed income portfolio and consider how to position for the new year. This week on…