March 17, 2020
Eric Bushell's picture

In a follow-up note to our recent pieces on the COVID-19 outbreak, Signature Coronavirus Commentary - February 28, 2020 and Coronavirus: Separating the disease from the market reaction - March 2, 2020, we wanted to outline our thoughts on the developing public health responses to COVID-19 and at a high level, the potential implications...

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March 3, 2020
Jeff Elliott's picture

There is a lot that is known about the novel coronavirus (COVID-19) and the outbreak, but there are also many unresolved questions. In this piece, we wanted to provide some perspective on the course of the outbreak, including both what has happened so far and what might still be to come – separating the disease from the market reaction...

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February 28, 2020
Eric Bushell's picture

Starting point

Market positioning in January was extended. The combination of the U.S.-China Phase 1 trade deal, the U.S. Federal Reserve’s (the “Fed”) 75 bps cuts in the summer and a banking system liquidity surge fueled by the Fed’s $60 billion/month U.S. Treasury bill purchase program resulted in a textbook risk melt...

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February 19, 2020
Darren Arrowsmith's picture

On February 11, 2020, a U.S. district judge ruled in favor of a $26 billion deal for Sprint Corp. to merge with T-Mobile, creating the third largest mobile carrier in the U.S. This announcement was unexpected, sending shares of Sprint up 77.50% and shares of T-Mobile up 11.78%. Bonds of Sprint were held in a number of Signature fixed-income and...

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January 29, 2020
Drummond Brodeur's picture

A new decade begins: Welcome to the 2020s

There is little doubt that both 2020 and the 2020s will prove to be interesting times. Almost everything we have known from a global economic, market, political and social perspective seem to be in a state of flux vs. the broad norms that have existed for the better part of all...

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January 27, 2020
Alexandra Gorewicz's picture

“Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies.”

So why do central banks keep reaching for the elusive 2% inflation target? The simple answer is “because they are legally required to so do.” For the better part of the last decade, world...

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January 15, 2020
Alexandra Gorewicz's picture

“Be careful what you wish for, you may receive it.”

Over the last several months, it feels as if all central bankers have used every speaking opportunity to mention that their monetary policies, including bond purchases (quantitative easing or QE) and negative interest rates (NIRP), have reached their limits. This is an...

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December 9, 2019
Jeremy Yeung's picture

When I was in San Francisco this month I noticed something peculiar about my iPhone – I was running on AT&T’s 5G network. This was a big surprise to me because I don’t have a 5G phone (Apple is expected to launch their first 5G phone next year). So what happened? Did I secretly access a hidden futuristic network only accessible to...

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November 20, 2019
Carlton Ling's picture

Background on WeWork

As you have probably read, WeWork’s much hyped equity initial public offering (IPO) failed.  For the record, we are not invested in either their shares or the previously issued high-yield bonds.  Although we have no investment in WeWork, we thought we could use it as an interesting example...

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November 8, 2019
Joshua Varghese's picture

In 2014 Signature Global Asset Management opened its Hong Kong office by sending one of our employees, Gorlen Zhou, to the region to open an office. The goal was to establish presence for our group in the Asian markets by developing local expertise and strong relationships with corporations, trading desks, research analysts and investment...

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