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Western Asset @WesternAsset

Follow us for perspectives on global fixed-income and alternative investments.

Joined October 2009
  • Tweets 3,097
  • Following 49
  • Followers 1,200
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"In our view, the risk isn't necessarily an imminent failure of UST demand, but rather that the market will now require a higher clearing yield to attract sufficient buyers." bit.ly/4e4MzLH#WAM_blog #WAM_blog #USTs #Inflation

Western Asset Blog: US Treasuries—Buyers Still Exist, But at a Price

As the traditional buyer base for US Treasuries shifts toward more price-sensitive, yield-dependent investors, rising long-end yields reflect a structural market adjustment—not a demand crisis—sign...

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"Bond markets reacted negatively to today’s news, as apparently the robust overall job gains fueled fears of Fed tightening. However, we believe such fears are misplaced." wam.gt/4tocSkc #WAM_blog #BLS #JobsReport #Fed

Western Asset Blog: Goldilocks Jobs Data in April

April’s jobs report highlighted continued momentum in hiring, with notable strength in sectors like health care and construction, suggesting businesses remain confident about future growth.

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"In our view, the risk isn't necessarily an imminent failure of UST demand, but rather that the market will now require a higher clearing yield to attract sufficient buyers."bit.ly/4vtbE8M #WAM_blog #USTs #Inflation

Western Asset Blog: US Treasuries—Safe-Haven Status Reaffirmed, with a Caveat

In the face of market turbulence and the Trump administration's tariffs, US Treasuries continue to be viewed as safe-haven assets due to their lower volatility and reduced exposure to interest-rate...

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"Despite recent outperformance, Western Asset believes the municipal market continues to offer attractive after-tax income opportunities" bit.ly/4vtjwqU #WAM_blog #muni #munibonds

Western Asset Blog: Weekly Municipal Monitor—May Monthly Review

This week we provide a muni market update for the month of May.

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"Human oversight remains critical, particularly among lean reserve management teams ..." bit.ly/4vnNc8N #WAM_blog #CentralBanks

Western Asset Blog: Reserve Management in an AI-Enhanced World

Central banks are cautiously exploring AI for operational support and analytics in reserve management, prioritizing security and oversight as financial markets become increasingly AI-driven.

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"The real spending data, as reported, are not horrible but they do show some slowing in growth recently ..." bit.ly/49utfVk #WAM_blog #Inflation

Western Asset Blog: Consumer Spending Up Only Softly in April

In April, real consumer spending grew only slightly, while conflicting inflation measures—possibly affected by government shutdown disruptions—cloud the true picture.

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"In our view, agency MBS fit naturally into the broader evolution taking place in reserve management." bit.ly/4u4UVHV #WAM_blog #FixedIncome

Western Asset Blog: Agency MBS—Expanding the Reserve Management Toolkit

Agency mortgage-backed securities offer central bank reserve managers a high-quality liquid and yield-enhancing alternative to Treasuries, balancing income generation with capital preservation and...

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"... in our view, the current UK gilt yields offer an attractive opportunity for fixed-income investors." bit.ly/4nTXdYH #WAM_blog #FixedIncome

Western Asset Blog: UK Gilt Market Outlook—Balancing Global Shocks and Domestic Risks

The UK gilt market faces heightened volatility as global shocks like the war in Iran and domestic political uncertainty drive rising yields, impacting Bank of England policy expectations and fixed-...

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"... the traditional relationship between bonds and risk assets has become less predictable in an environment shaped by supply-side inflation shocks and geopolitical fragmentation." wam.gt/4f8fqzD #WAM_blog #FixedIncome

Western Asset Blog: Global Bond Yields—The Kettle Is Whistling

Bond yields are trending higher as investors price in persistent inflationary pressures, elevated fiscal deficits and heightened geopolitical uncertainty, prompting a reassessment of risk premiums...

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"... builders continue to start new homes at a rate high enough to forestall any decline in inventories ..." wam.gt/43m6JKD #WAM_Blog #Housing Starts

Western Asset Blog: Homebuilding Stabilizing in April

Single-family homebuilding remained resilient in April, with both housing starts and new-home inventories staying steady and surpassing forecasts of a slowdown.

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NEW: Key Convictions for 2Q26—a concise dashboard of our latest fixed-income insights, along with features discussing the global fixed-income landscape and how energy shocks driven by the conflict in the Middle East have reset rate expectations. wam.gt/3NmADET
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"Western Asset believes that relatively high taxable-equivalent municipal yields have supported the recovery in fund flows ..." wam.gt/4tOuNkf #WAM_blog #muni #munibonds

Western Asset Blog: Weekly Municipal Monitor—Steady Demand

This week we touch on the current municipal inflow cycle and what may lie ahead for muni demand.

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"The ongoing cooling from peak pandemic-era stimulus suggests the US economy is gradually returning to its longer-term trend." wam.gt/43mHsA0 #WAM_blog #ConsumerSpending #USeconomy

Western Asset Blog: US Consumer Report Card—First Quarter 2026

Resilient job markets and steady credit helped support US consumers in 1Q26, though inflation and slower income growth made things a bit more challenging.

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"... money market funds are no longer just passive cash vehicles; they’re an important part of the broader financial system" wam.gt/3PRFwwn #WAM_blog #MoneyMarkets #FixedIncome

Western Asset Blog: What Money Markets Are Telling Us

Money market funds have reached an estimated $8 trillion, reflecting how investors now view liquidity as a strategic asset for income and resilience in an uncertain global environment.

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"... consumer spending is back on a decent growth track both before and after adjusting for inflation." wam.gt/4ePrNjY #WAM_blog #ConsumerSpending #CPI #PCE #Inflation

Western Asset Blog: Retail Sales Up Robustly in April

Retail sales increased in April, with consumer spending remaining strong after inflation adjustments and most prices staying stable outside of fuel and food, even amid the Middle East conflict.

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"... Asia increasingly appears less like a tactical allocation and more like a structural pillar of global fixed-income portfolios." westernasset.com/us/en/resea… #WAM_blog #FixedIncome

Western Asset Blog: Asian Bonds—No Longer Just an EM Trade

Asia-Pacific bond markets are increasingly recognized as a resilient and distinct asset class, offering investors the potential for attractive yields, stability and diversification benefits in...

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"Despite recent outperformance, Western Asset believes the municipal market continues to offer attractive after-tax income opportunities." wam.gt/4334XOn #WAM_blog #muni #munibonds

Western Asset Blog: Muni Monthly—April 2026

In April, municipal returns rebounded after weakness in March.

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"Western Asset expects resilient economic growth to continue supporting wealth creation in key economic centers underpinning New York’s overall credit profile." wam.gt/3PjKVfh #WAM_blog #muni #munibonds

Western Asset Blog: Weekly Municipal Monitor—New York Ends Impasse

This week we touch on the New York budget agreement reached last week.

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"... markets may be underestimating the durability of this conflict and becoming too complacent about outcomes that are not particularly friendly to risk assets." wam.gt/3PiPzdE #WAM_blog

Western Asset Blog: The Iran Risk Premium Isn’t Gone

Markets have grown complacent about the Iran conflict, but a new CIA assessment suggests Iran retains significant military capabilities, indicating that risks to global markets and inflation may be...

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"... today’s data should be encouraging to stock and bond markets alike." wam.gt/4tocSkc #WAM_blog #BLS #JobsReport

Western Asset Blog: Goldilocks Jobs Data in April

April’s jobs report highlighted continued momentum in hiring, with notable strength in sectors like health care and construction, suggesting businesses remain confident about future growth.

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