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Building 1, Suite 100
Sage Advisory
- Main – 512-327-5530
- Fax – 512-327-5702
- Trading/Operations – 512-330-9101
- Trading/Operations Fax – 512-330-9154
5900 Southwest Parkway
Building 1, Suite 100
Although November’s rally is behind us, there’s still time to capture seasonal return...
Bob began his career at Moody’s Investors Service as a member of the Corporate Bond Rating Committee; he then went on to Loeb, Rhodes & Co. to cover the insurance industry in the Institutional Equity Research department. He then worked at Merrill Lynch & Co. for 13 years in a variety of institutional research, trading and portfolio management roles in New York and London. During this period, he was assigned to the Saudi Arabian Monetary Agency as a Resident Financial Advisor in Riyadh responsible for managing the foreign reserves of the Central Bank.
Bob’s investment research and comments have been featured in a wide variety of media and publications including the Wall Street Journal, New York Times, Grant’s Market Observer and Bloomberg Business News Services. He is a past recipient of the Stephen L. Kessler Award from the Investment Management Consultants Association.
Thomas is a Managing Partner of the firm and a member of the Investment Committee. He leads the portfolio management team overseeing Sage’s fixed income and equity strategies. Prior to joining Sage, Thomas worked at Credit Suisse Asset Management in New York trading fixed income assets and implementing investment strategy on behalf of the firm’s institutional clients. Thomas began his career in 1996 as a fixed income portfolio analyst with Morgan Keegan. He received his B.A. degree in Economics from The University of Texas at Austin and is a CFA Charterholder and a member of the CFA Institute.
Rob is a Principal and Managing Director of the firm and a member of the investment committee. He serves as the Director of Research. He received his B.A. in Financial Management from the University of Colorado. Rob is a Chartered Financial Analyst Charterholder and member of the CFA Institute. Before joining Sage, Rob was a Fixed Income Strategist for UBS in New York. He was also a former Senior Wealth Management Strategist for Mutual of New York and a Research Analyst for Merrill Lynch. Rob brings over 18 years of experience in credit analysis and corporate finance to the firm.
Over the past six months, the US Treasury has issued $1.5 trillion in Treasuries across bills,...
By Komson Silapachai
After the increase in Treasury issuance in July, and concerns around the...
By Komson Silapachai
By Rob Williams, Chief Investment Strategist
The last four quarters have been difficult for...
Economic readings continue to point to a “soft landing” through the next few months,...
By Komson Silapachai
Inflation is moving lower, and while the labor market remains strong, it is...
After a prolonged debt ceiling standoff in Washington came to an end, the FOMC delivered on its...
By Thomas Urano, Co-Chief Investment Officer
By Rob Williams, Director of Research
As we near the end of the Fed tightening cycle, our game...
Fixed Income Outlook in 5 Charts
By Komson Silapachai
Stresses from the US regional banking...
By Komson Silapachai, Vice President, Research & Portfolio Strategy
This week the Consumer...
Fixed Income Outlook in 5 Charts
By Rob Williams, Director of Research
by Komson Silapachai, Research & Portfolio Strategy
Key Takeaways
By Rob Williams, Director of Research
The latest inflation release illustrated the stickiness of...
The Fed is likely to wrap up hiking rates by year-end, which is good news for fixed income...
Meet a Strategist is a weekly feature where Evan Harp talks to different strategists about how...
By Ryan O’Malley, Vice President, Fixed Income Portfolio Strategist
By Bob Smith, Sage Advisory President
Nowhere to run to baby, nowhere to hide
I got nowhere to...
By Andrew Poreda, Vice President & Senior Research Analyst
A biweekly roundup of Sage’s top...
By Rob Williams, Director of Research
The water level in Lake Mead, which supplies water to the city of Las Vegas and surrounding...
Municipal investors often sift through various issues that include underfunded pensions, a lack...
Sage Managing Partner Michael Walton and Thomas Urano, who leads the Portfolio Management Team,...
The first quarter of 2022 marked one of the worst quarters for the U.S. fixed income market since...
The Russia-Ukraine war has caused countries around the globe to evaluate their reliance on...
What it means: Crypto enthusiasts have found a new area for a blockchain application: carbon...
What it means: Russia’s invasion of Ukraine has led many investors to rethink their outlook on...
What it means: Many investors are starting to realize that their ESG-labeled funds may leave...
Uncertainty is at its Highest Level Since March 2020. The Russia\/Ukraine war has injected a...
In the two years since the onset of the pandemic, ESG ETFs have seen tremendous growth in both...
The following charts illustrate rates and rate path expectations, as well as return expectations...
A biweekly roundup of Sage’s top ESG news picks.
The Walt Disney Company is an American multinational media and entertainment conglomerate...
We have reached a pivotal point in both the economic and monetary policy cycle, and uncertainty...
The Europeans are in quite the energy bind, as calmer winds and the shortage of natural gas...
Environmental, Social, Governance (ESG) has taken hits from all angles as of late.
As the effects of climate change become more prevalent, the potential for unexpected and...
Investors have been holding their collective breath for the inevitable increase in 10-year...
Not all commodities have benefitted equally in the reflation\/economic reopening trade.
Micron Technology, Inc. is an American semiconductor company that produces a variety of memory...
Fueled by stimulus and pent-up demand from the Covid-induced recession, the U.S. economy staged...
When the European Investment Bank issued the world’s first green bond in 2007, little did the...
Corporations, governments, and municipalities worldwide have leveraged green bonds to fund...
Earlier this week, I spoke at the Barron’s Institutional Summit about how the ESG investing...
The Fed’s announcement last week that would pull rate hikes forward by six months was somewhat of...
The money market community is struggling with a 0% yield environment and a mountain of cash...
High yield corporate bond issuance is up 93% in 2021 – from $106 billion in 2020 to $206 billion...
ESG investing has evolved from niche to mainstream, becoming one of the fastest-growing areas in...
While growth, earnings, and liquidity conditions are expected to remain highly supportive to risk...
Boston Properties (BXP) is a real estate investment trust (REIT) that owns and manages 196...
Despite the Federal Reserve’s promise to keep the federal funds rate low and support the bond...
The misguided debate on the inferiority of various power sources has provided a great opening to...
Expect robust 2021 growth as conditions continue to normalize post-vaccine and policy remains...
When we talk about ESG – environmental, social and governance – investing, we often start with a...
An investor searching through ESG ETF options in present times can easily face overwhelming...
Fixed income investors have benefitted from falling rates and a recovery in spreads, which has...
Earlier this year many investors panicked and fled to cash when news of Covid-19 caused a sharp...
We expect the continued economic recovery to be a driver of market returns overall and putting...
From lowering greenhouse gas emissions to excellent supply chain management, Cisco is an industry...
As summer draws to a close, the U.S. economy continues to stage a dramatic recovery. While...
As the pandemic continues to alter everyone’s ‘new normal,’ women have been disproportionately...
As the dust begins to settle following the extreme volatility seen in the second quarter of 2020,...
In this episode, Sage’s Komson Silapachai and Emma Smith discuss the three trends that are...
As ESG strategies prove their mettle in the current market environment, investors are turning to...
In this podcast, Sage’s Director of Research Rob Williams and Vice President of Research and...
In recent weeks, Sage has become more cautious on lower-quality corporate bonds. Our caution is...
Global growth continues to slow, and the escalation in the trade war, weakness in U.S. data, and...
The New York Fed has placed a roughly 40% probability that there will be a recession in the next...
Manufacturing activity, which is a leading indicator for economic growth, has slowed down in...
Not so long ago, Consumer Staples was one of the safest sectors for corporate bond investors...
The U.S. consumer remains a bright spot amid slowing economic activity abroad and a cooling U.S....
By pausing rate hikes and slowing quantitative tightening, the Federal Reserve has supported...
With investor demand focused on the front end of the yield curve, longer maturities have been...
While a further rally in risk assets and compression in credit spread will require a...
Higher Volatility. Even after factoring in some spread widening during the year, Sage believes 3%...
Both classic and modern literature have countless stories of seemingly outmatched opponents...
In 49 BCE a provincial governor named Julius Caesar and a single legion of troops crossed a small...
As several market observers have written, corporate leverage continues to increase. Specifically,...
Housing investments account for 15% of U.S. GDP and are a large component of both CPI and PCE,...
The U.S. labor market continues to power on, with an unemployment rate now below 4%. Jobs...
The real policy rate, aka the Federal Funds rate minus the core inflation rate, remains below...
The U.S. continues to see strong economic expansion advancing at the highest rate since 2014,...
The U.S. economy continues to show strong growth, and the Fed has indicated two additional rate...
Coming into the year, we experienced synchronous global economic growth, and expectations for...
If the volatility during the first half of 2018 was caused by fears of reflation and higher rates...
According to the most recent jobs report, unemployment is the lowest it’s been in 18 years. At...
Interest rates have increased dramatically since the end of 2017 and are expected to continue...
A rising tide lifts all boats, but do rising rates lift all assets? The yield on 10-year Treasury...
At the dawn of the Trump administration a little over a year ago, equity investors were both...
On Monday, Feb. 5, the US equity market experienced its first 5% drawdown in 405 days and reached...
Technical indicators can be a useful tool for bond managers, particularly when combined with...
Several of the technical\/sentiment indicators we monitor are suggesting equities may be getting...
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Not FDIC Insured – No Bank Guarantee – May Lose Value
A long-running debate in asset allocation circles is how much of a portfolio an investor should...
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