Cimarex Agrees to Property Sales Totaling $326 million
Despite rising prices in the broader market, we've uncovered some mid-cap gems.
As credit spreads have tightened on a nearly continuous trend over the past year, they are becoming richly valued relative to their historical average.
Corporate credit spreads are fairly valued--albeit at the tight end of the range that we view as fairly valued.
Rising interest rates have taken their toll, but as the Fed delays dialing back on stimulus, investors are poised to recapture some of their losses.
The corporate bond market will probably struggle to return much above break-even in 2014.
Widening investment-grade credit spreads and rising interest rates lead to losses.
A group of top managers remains cautious and commits more capital to traditional defensive sectors, while taking advantage of a rising (and potentially overvalued) market to book some gains.