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Observation Deck
June 02, 2014 Posted by

SVB Asset Management's monthly Observation Deck newsletter covers current topics on portfolio management, credit considerations and market events that influence investment strategy. The main article for the June edition, "The Fed’s Exit Strategy," discusses the next move for the Fed and when we could see a change to the current monetary policy.

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Economic Outlook
December 18, 2013 Posted by
In the last Federal Reserve Open Market Committee meeting of the year, the Fed announced changes to its current monetary policy which included a modest tapering of asset purchases.
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Advisories; Observation Deck
October 01, 2013 Posted by
At the September Federal Open Market Committee (FOMC) meeting, which was regarded as the most highly anticipated meeting of the year, officials jolted markets with the announcement of no tapering of bond purchases at this time. In the headline commentary of Observation Deck, "Summer of Volatility," portfolio manager Renuka Kumar discusses how recent bond market volatility has been driven by the Fed and monetary policy.
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Observation Deck
February 27, 2013 Posted by

Four years of quantitative easing and an essentially zero percent target rate have certainly had an impact on the bond markets and corporate cash management. We saw the Fed's balance sheet balloon to over $3 trillion in January, the ten-year Treasury note hit an all-time low of 1.39 percent in July of last year, and U.S. corporate bond issuance had a record year with over $1.3 trillion in new issuance. Now that we are two months into 2013, it might be worthwhile to take a look at how this year is shaping up in terms of corporate bond issuance and what that means for corporate cash investment portfolios.

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Observation Deck
October 31, 2012 Posted by

QE3, QE Infinity, Q-Eternity are just some of the expressions for what the Fed's latest round of stimulus has been dubbed. At the September FOMC meeting, policy makers embarked on further accommodation in the form of mortgage-backed security purchases in an effort to stimulate growth in the midst of persistently high unemployment, headwinds stemming from the European debt crisis and an imminent tightening of fiscal policy. The interesting point about QE3 is that it is open-ended. This means that the Fed will continue to purchase bonds or employ additional policy tools until the labor market improves "substantially" which then brings into question its forward guidance of mid-2015.

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Observation Deck
July 02, 2012 Posted by
While there has been a great deal of attention paid to the austerity measures being enforced across Europe this year, the U.S. has been facing its own austerity challenge with the “fiscal cliff” approaching at year-end...
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Observation Deck
March 01, 2012 Posted by
There is no question that the issues in the euro zone are far from over and that many headwinds to economic growth remain. Sovereign governments still need to implement harsh austerity measures and control their debts and deficits, while banks are facing capital and liquidity challenges.
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Observation Deck
November 01, 2011 Posted by
Opportunities do exist for investors to create value in a zero-bound interest rate environment, even with lingering concerns over a faltering global economic recovery and a possible double-dip recession.
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