Business and Investment media follow and report SCM Fixed Income
expert opinions and strategies. Our opinions are regularly quoted
in the national financial press. Below are summaries of recent
articles:
- Forbes.com, July 1, 2010
Alan, Ben, My Fed Model, And Why Stocks Are
Cheap
- The Wall Street Journal, December 26,
2009
A Savvy Bond
Man Bets on Rising Inflation
- Arkansas Democrat Gazette, October
25, 2009
Stephens Execs Say Inflation
Looms (PDF)
- Associated Press, January 23,
2008
U.S. Treasuries End Mixed After Frenetic Day
There is now a sense that the stock and bond markets are helping
guide Fed policy, according to Alan Tedford, a fixed income
portfolio manager at Stephens Capital Management. The Fed has a lot
more work to do, he said. The Fed has got to get the Fed Funds rate
to where banks can lend again, Mr. Tedford commented. Right now, it
costs banks more to borrow than to lend.
- MarketWatch From Dow Jones, January
15, 2008
Deeper, Faster Rate Cuts Expected As Economy Cools
Regardless of when the Fed cuts rates, trimmed inflation
concerns mean the Fed can move more aggressively to lower rates
without inciting fears that its policies will allow price growth to
get out of hand. According to Bill Tedford, fixed income strategist
at Stephens Capital Management, the Fed Funds rate has a long way
to go to get to the bottom. Mr. Tedford said he anticipates the Fed
Funds rate, now at 4.25%, could get as low as 2% as the Fed tries
to revive the economy. Built into that outlook is the forecast that
oil prices won't make another 60% gain this year, he noted.
The views expressed in these article
excerpts and hyperlinks were those of the portfolio manager as of
each article's publication date and are subject to change without
notice. For the period ending December 31, 2007, the portfolio's
1-, 3-, 5-, 10-, 15-year average annualized returns were 9.06%,
4.72%, 3.49%, 5.94% and 6.58% respectively. The performance data
quoted does not reflect the deduction of advisory fees and other
account expenses. Our advisory fees are available in Part II of our
ADV or the appropriate brochure. Performance results represent past
performance and do not guarantee future results. Market volatility
can significantly impact short-term performance. Actual results of
an investment made may differ from the composite results, depending
on the size of your account, the duration of the account, the
investment objectives and/or restrictions, the time at which your
investments are made and other factors.