Returns should be better for fixed income investors in the second half of 2022, now that interest rates have reset higher. However, we still expect volatility to remain high as central banks shift away from easy-money policies.

Thinking about buying a municipal bond at a price below its par value? You may want to think twice, because if it’s acquired at too deep a discount it could be subject to an additional tax, known as the de minimis tax, which would take a bite out of the after-tax return.

In short: The larger the discount, the greater the risk that an investor will face a higher tax rate. Here are some issues to consider.

Stocks, bonds, and cash are all in a bear market or teetering on the edge of one—a very rare event. Over the past 72 years, there have only been two prior periods with a triple bear.

Bearish sentiment is becoming a contrarian support; but for now, aggressive Fed action, tightening financial conditions, and the liquidity drain may keep downward pressure on stocks.

Major central banks are hiking interest rates rapidly and shrinking their balance sheets in an effort to "normalize" policy. The question hanging over the market is, "What is a normal policy rate?"

The world’s second-largest economy and consumer market has likely slipped into a recession, at least by China’s standards.

Another burst of market volatility has confirmed that the peak in negative economic consequences—courtesy of tighter policy and slowing growth—is likely still ahead of us.

Consider hedging the possible risk of higher interest rates with the addition of short duration stocks, a potential way to manage risk while remaining invested in the markets.

With inflation running at a 40-year high, and the Fed having embarked on a rate hike cycle, the burning debate is whether the slowdown ends in a soft landing or a recession.