Perspectives

A variety of timely topics and trends for today’s Cash Managers

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MONEY MARKET

February 2019

Taxable Money Market Commentary

January’s nonfarm payroll data showed an increase of 304,000 jobs and, while the unemployment rate ticked up from 3.9% to 4.0%, it still represents a historically low level of joblessness.

MONEY MARKET

February 2019

Tax Exempt Money Market Commentary

At its first meeting of the new year (held on January 30), the Federal Open Market Committee (FOMC) said it will be patient on any future interest-rate moves and signaled flexibility on the path for reducing its balance sheet.

FIXED INCOME

January 2019

At the Crossroads of Inflationary Direction

What the relationship between wages, inflation and bond yields might point to in 2019.

MONEY MARKET

December 2018

3Q18 Money Market Credit Trends By Sector

Commentary by the Credit Research Team at BNY Mellon Cash Investment Strategies (CIS), a division of The Dreyfus Corporation.

FIXED INCOME

November 2018

Muni bond sector mulls U.S. Supreme Court Rulings

Two recent rulings could have long-term implications for the American municipal credit market, as discussed by the Standish municipal bond team.

MONEY MARKET

November 2018

U.S. Electorate Splits Power In Mid-Terms

The U.S. Mid-term elections saw the U.S. Democratic Party regain control of the House of Representatives...

MARKETS & ECONOMY

September 2018

Fed Thoughts: Stargazing in the Mountains

Vincent Reinhart, Chief Economist and Macro Strategist of BNY Mellon, draws inspiration from the dramatic arts to understand the drama generated by President Donald Trump.

MARKETS & ECONOMY

September 2018

No Room for Mistakes: China’s Balancing Act in the Trade War

China’s economy is in a tough spot, facing multiple headwinds including escalating trade frictions, tightening global financial conditions led by the U.S. rate hikes, and deleveraging efforts curbing domestic demand.

MARKETS & ECONOMY

July 2018

The Great Divide

After a broadly positive start to the year, markets in the second quarter showed further signs of divergence as U.S. growth accelerated while the rest of the global economies experienced pockets of weakness and even some flattening.

FIXED INCOME

June 2018

The End of Goldilocks? Navigating Tight Credit Valuations and Rising Yields

The fixed-income environment in 2018 and beyond may favor more sophisticated active approaches, such as flexible “best-ideas” strategies.

MONEY MARKET

June 2018

1Q18 Money Market Credit Trends by Sector

1st Quarter Commentary by the Credit Research Team at BNY Mellon Cash Investment Strategies (CIS).

MARKETS & ECONOMY

April 2018

Pass the Popcorn, Mr. President

Vincent Reinhart, Chief Economist and Macro Strategist of BNY Mellon AMNA, draws inspiration from the dramatic arts to understand the drama generated by President Donald Trump.

MARKETS & ECONOMY

April 2018

Munis in a Rising Rate Cycle

The BNY Mellon Asset Management North America Municipal Bond Team discuss how muni bonds offer a unique opportunity to investors as interest rates rise.

MONEY MARKET

April 2018

Higher Rates And Tax Reform

The market environment clearly has changed: the era of ultra-low yields on liquid assets is over. Higher short-term interest rates, stimulative fiscal policies and business-friendly changes to the tax code...

MARKETS & ECONOMY

Spring 2018

A Market Commentary

The market exited the first quarter of 2018 on an upward trend but was battered by sentiment and tail risks.

MARKETS & ECONOMY

April 2018

Revisiting Geo-Political Risk for Investors

The end of the Cold War ushered in a new era of global political stability that lasted for a quarter of a century. Signs suggest this hiatus has now run its course, but are investors prepared?

MARKETS & ECONOMY

April 2018

The Impact Of Political Willingness On Municipal Credit

Over the past several years, a number of rating actions have affected state and local credits. The most frequently cited reasons for negative rating actions include depressed economies, poorly...

MARKETS & ECONOMY

April 2018

Strength in Efficiency

With high levels of demand and limited access, the challenges facing India's healthcare system are similar to those of other emerging markets (EM). Here, Newton healthcare analysts...

MARKETS & ECONOMY

April 2018

Believe the Hype?

Grand visions of China's One Belt One Road (OBOR) infrastructure project continue to make headlines but for now portfolio manager Naomi Waistell, of Newton's emerging and Asian equity...

MARKETS & ECONOMY

April 2018

Emergent Emerging Markets

Investment specialists from Newton Investment Management, Insight Investment and BNY Mellon Asset Management North America (AMNA) consider the potential risk and reward emergent...

ESG

April 2018

The Municipal Market And Climate Change

The effects of climate change will continue to have broad implications for the nation’s economy, institutions and infrastructure.

ESG

April 2018

Raising The Bar

Corporate governance standards are gradually improving in the emerging markets and increased focus on environmental, social and governance (ESG) factors is expected to drive corporate...

MONEY MARKET

March 2018

4Q17 Money Market Credit Trends By Sector

4th Quarter Commentary by the Credit Research Team at BNY Mellon Cash Investment Strategies (CIS).

MARKETS & ECONOMY

March 2018

The Consequences Of Tariffs

The economic consequences of the steel and aluminum tariffs are negative and the greatest risk is the potential for back-and-forth retaliation between the U.S. and its trading partners.

ESG

February 2018

Classifying Responsible Investment

This brief is a framework for classifying the responsible investment opportunity set.

FIXED INCOME

February 2018

Welcome to the Job, Jay

The first week of February made for interesting on-the-job training for Federal Reserve Chair Jay Powell. Learn more here.

FIXED INCOME

February 2018

Bond Market Observations: Déjà Vu, All Over Again

A brief summary on the bond market from BNY Mellon Asset Management North America on GDP growth, currencies, inflation and central bank policies.

FIXED INCOME

January 2018

The Impact Of Tax Reform On The Investment Grade Credit Market

In December, President Trump and Republican members of Congress passed the most significant changes to the U.S. tax system since the Reagan administration in 1986.

MARKETS & ECONOMY

January 2018

Impact of Tax Reform on Earnings Estimates

A discussion from our Global Investment Strategy Group on the impact of tax reform on earnings estimates.

FIXED INCOME

January 2018

The Impact of Tax Reform on the Municipal Bond Market in 2018

The Impact of Tax Reform on the Municipal Bond Market in 2018: A discussion by the Stanidsh Municipal Bond team.

MONEY MARKET

December 2017

Ideas for your Investment Guidelines

Varied regulatory impacts caused by Basel III, Money Market (2a-7) Rule changes, Dodd-Frank, and the supply/demand dynamics for high-quality securities suggest that it may be time to review your investment guidelines.

MARKETS & ECONOMY

December 2017

U.S. Tax Reform Helpful for Financials

The Boston Company Asset Management explores how U.S. tax reform may be a helpful tailwind for financials.

MONEY MARKET

December 2017

De-Mystifying Liquidity Fees and Redemption Gates

Prime money market funds have served a vital role as an investment vehicle for institutional investors since the 1980’s.

MONEY MARKET

December 2017

3Q17 Money Market Credit Trends By Sector

3rd Quarter Commentary by the Credit Research Team at BNY Mellon Cash Investment Strategies (CIS).

ESG

November 2017

The Next Energy Trend

The Boston Company discusses how environmental and safety performance in the Energy sector provides insight into enterprise valuation.

MONEY MARKET

October 2017

Effectively Managing MMF Assets

This brochure is designed to summarize the regulatory requirements of Rule 2a-7 and discuss the investment/risk management infrastructure that Dreyfus employs to ensure...

ESG

October 2017

New Generation

Renewable energy investment supports ongoing de-carbonization initiatives and can offer an attractive range of benefits to investors seeking...

CIS-23597-2018-03-05