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Commentary - page 3
The Securitized Credit Premium
Ward Bortz and David Wells explore securitized credit’s underrepresentation within retail investors’ fixed income portfolios and explain possible drivers of the securitized credit premium.
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Banking Outlook: Rising from the Ashes
In this whitepaper, Angel Oak’s Financials Strategies team outlines the circumstances that have led to the banking system’s most significant disruption since the Global Financial Crisis and shares its thoughts on the likely outcomes and potential opportunities.
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Favorable Fundamentals in the Housing Market
CIO of Public Strategies Sam Dunlap and Chief Portfolio Strategist David Wells share several factors they believe will provide a tailwind to mortgage credit and housing prices even in the face of a potential recessionary environment.
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Bulled Up on Banks
The series of recent events in the U.S. banking sector has resulted in a significant loss of confidence in the space, and the resulting regulatory response may be like that seen in the wake of the Global Financial Crisis. For investors, opportunities like this are rare. Learn why Angel Oak’s financials team remains convinced in the soundness of the banking system and its ability to emerge stronger.
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The Front End is Alive
The Federal Reserve’s inflation battle has brought the front end of the yield curve to life. Sam Dunlap and David Wells urge investors to rethink their views on ultra-short strategies, as they now have the potential to deliver high income with possible price appreciation within a diversified fixed income allocation.
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The Return of Fixed Income
Sam Dunlap and David Wells explain the PM team’s belief that securitized credit—specifically mortgages—is an appealing place to invest fixed-income dollars due to softening interest rate volatility, increased demand from investors, and better relative value.
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Q&A: Measuring Impact in the Financials Income Impact Fund
Members of the ANFIX management team discuss the role of ESG at both the company-wide and Fund-specific level, from integration within the overall investment process to how ESG principles are factored into the ANFIX investment strategy.
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2023 Financials Market Outlook
Angel Oak’s PM team provides an outlook for the financial sector in 2023 and identifies pockets of opportunity within the community bank space.
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2023 Market Outlook
The great bond bear market of 2022 left a swath of destruction in financial assets, especially within long-duration fixed income. While pandemics and wars are difficult to anticipate using typical macroeconomic indicators, our focus on sustainable fundamentals in high-quality areas of structured credit should position us to outperform over the long-run credit cycle as the bond bear market of 2022 has created years of total return potential. Bonds are the new stocks in 2023, and we encourage investors to take note of that when they assess the carnage of the 2022 bond bear market.
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Compelling Relative Value Opportunities Within Agency MBS
David Wells and Abhi Kane explain that surging interest rate volatility and the resulting massive slowdown in housing activity have presented some of the most compelling investment opportunities in the agency mortgage market in years.
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