A potentially dangerous curve

If the yield curve inverts, will a recession follow? Not necessarily, given how far from normal the current expansion and Fed rate hike cycle are. We believe investors should instead watch out for volatility sparked by recession fears and prepare for especially challenged traditional income sources.
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FS energy market commentary

SEPTEMBER: Upstream and integrated oil companies bounced back in September while midstream performance was negative. Risks in Colorado weighed on midstream sentiment. Retail investors are increasingly using funds to access the energy infrastructure space.
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FS credit market commentary

SEPTEMBER: Strong corporate and economic data caused high yield bonds and senior secured loans to rally. High duration portfolios, like the Barclays Aggregate, continued to struggle amidst rising rates. High yield bonds generated its strongest quarterly return since Q1’17.
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