• About AAM
  • Customized Investing
  • Specialty Services
  • Industry Insight
  • Corporate Credits
  • Municipals
  • Structured Products
  • Accounting Tax Updates
  • At Large

Corporate Credits

Energy Companies Can Withstand the Instability in Russia

The latest sanctions against Russia are just the most recent bout of volatility that energy companies have had to manage […]

View PDF

August 5, 2014 | Categories: Corporate Credits, Home Page - Thought Leadership Article, Industry Insight, sidebar: featured publication A

AAM Corporate Credit View (Summer 2014): Be Defensive, Not Bearish

Corporate credit spreads tightened 7 basis points (bps) in the second quarter, supported by dovish comments from the Federal Open […]

View PDF

July 11, 2014 | Categories: Corporate Credits, Home Page - Thought Leadership Article, Industry Insight

The Paradigm Demographic Shift and Influence of Hispanics and Millennials

When contemplating an investment, it is important to step back and look at the big picture. Baby Boomers, Generation X’ers, […]

View PDF

June 25, 2014 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit – Spring 2014: Credit Market Stays Healthy Through Tough Winter

The Investment Grade Corporate market generated solid performance in the first quarter 2014, with spreads tightening and Treasury yields falling, […]

View PDF

April 17, 2014 | Categories: Corporate Credits, Home Page - Thought Leadership Article, Industry Insight

Cautious Consumers Likely to Dampen Retail Holiday Sales

Another year is behind us and we find ourselves in the midst of the holiday shopping season. Holiday merchandise seems […]

View PDF

November 26, 2013 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – October 2013

In the third quarter of 2013, investment grade corporate bond spreads staged a nice comeback with significant tightening starting at […]

View PDF

October 17, 2013 | Categories: Corporate Credits, Industry Insight

The Case for REITS in an Insurance Portfolio

AAM has established an overweight to REIT (Real Estate Investment Trust) debt over the past three years. This position reflects […]

View PDF

October 1, 2013 | Categories: Corporate Credits, Industry Insight

Is $100 Billion Opportunity in Oil Service Sector Future?

President Enrique Pena Nieto of Mexico hopes to attract private companies to Mexican oilfields for the first time since 1938. […]

View PDF

September 20, 2013 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – Second Quarter 2013

Investment grade corporate spreads tightened from 141 basis points (bps) at year-end 2012 to 130 bps in mid-May, as investors […]

View PDF

July 11, 2013 | Categories: Corporate Credits, Industry Insight

The Railroad Industry Hits a Gusher

The relationship between the oil and rail industries goes back over 100 years to the days of the Standard Oil […]

View PDF

May 31, 2013 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – April 2013

The Investment Grade Corporate market started the year well, as spreads tightened 8 basis points (bps) in response to fiscal […]

View PDF

April 12, 2013 | Categories: Corporate Credits, Industry Insight

Bail-In or Bail-Out? New Risks on the Horizon for the Banking Sector

The US banking sector is currently characterized by good credit fundamentals and supportive technicals. A key risk offsetting this credit […]

View PDF

April 9, 2013 | Categories: Corporate Credits, Industry Insight

Navigating the Activist Waters in the Energy Space

Navigating the energy sector has been a difficult exercise in the first two months of 2013 due to activist investors. […]

View PDF

February 28, 2013 | Categories: Corporate Credits, Industry Insight

Crude Oil Pipeline Build Out More Than Just Keystone XL

North American crude oil production growth from new regions requires new infrastructure Keystone XL is the largest project; Flanagan South […]

Read more

November 29, 2012 | Categories: Corporate Credits, Industry Insight

2012 Holiday Retail Sales Forecast: Naughty or Nice?

Thanksgiving is here and Christmas is right around the corner. This is a very important time of year for the […]

Read more

November 20, 2012 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – October/November 2012

Strong Performance from Investment Grade Corporates  QE3 has Increased Demand for Investment Grade Corporates Company Earnings and Outlooks have been […]

Read more

November 6, 2012 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – September 2012

Back to Work Corporate Bond Markets Outperformed Treasuries in August European Headlines Will be Plentiful, Leading to Higher Volatility Stimulus […]

Read more

September 7, 2012 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – August 2012

Keeping It Simple Corporate Bond Market Outperformed Treasuries in July Near Term Outlook Uncertain with Politics in the U.S. and […]

Read more

August 10, 2012 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – July 2012

Focus Will Be on the U.S. in the Second Half of 2012 Volatility has Increased in the Corporate Bond Market […]

Read more

July 17, 2012 | Categories: Corporate Credits, Industry Insight

Plans for Significant Domestic Liquefied Natural Gas (LNG) Exports Likely to Chill Out

In the past decade, the domestic natural gas market has gone from a potential shortage to having nearly a centuries’ […]

Read more

July 17, 2012 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – May 2012

A Negative Rating Forecast Adds to Pressure on Yield Starved Life Insurance Companies Investment Grade Corporate Bond Spreads Increase Spreads […]

Read more

May 30, 2012 | Categories: Corporate Credits, Industry Insight

Railroading Into the Future

Introduction In 1827, the Baltimore and Ohio (B&O) Rail Road Company, now part of CSX Corporation, was capitalized with just […]

Read more

May 9, 2012 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – April 2012

Is This Time Different? After Strong Performance in the First Quarter, Corporate Bond Spreads are Widening in April Due to […]

Read more

April 20, 2012 | Categories: Corporate Credits, Industry Insight

The Pain in Spain Falls Mainly on the…

Spain is in the headlines again due to rising capital markets concerns about the country’s fiscal sustainability and the soundness […]

Read more

April 18, 2012 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – March 2012

Strong Start to the Year The Positive Role of the LTRO Risk assets have rallied in 2012, fueled by European […]

Read more

March 8, 2012 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – January 2012

2012 Outlook Overview Performance in 2011 departed from our outlook of positive excess returns largely due to the heightened systemic […]

Read more

January 26, 2012 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – December 2011

Is European Central Bank Monetization the Answer? Corporate Bonds Underperformed Again in November It did not take investors long to […]

Read more

December 13, 2011 | Categories: Corporate Credits, Industry Insight

Will It Be a “Merry Christmas” or “Bah Humbug” for U.S. Retailers This Year?

With Thanksgiving approaching, we thought it prudent to release our outlook for holiday retail sales. This is an especially important […]

Read more

November 18, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – November 2011

Sovereign Risk Decreased But Not Diminished   Results were Favorable for Corporate Bonds in October  After months of debate, European leaders […]

Read more

November 9, 2011 | Categories: Corporate Credits, Industry Insight

Private Label (Generic) vs. Branded Products: Differences Aren’t Black and White Anymore

Today’s private label products are far superior to those black and white labeled generic products familiar from the 1970’s. Private […]

Read more

October 26, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – October 2011

Where to Invest in a Low Yield Environment The late rally in September for both equities and Corporate bond spreads […]

Read more

October 3, 2011 | Categories: Corporate Credits, Industry Insight

New Regulations and Volatile Market Provide Opportunities in Electric Utilities

There are two items which we expect to drive the performance of bonds issued by electric utilities in the next […]

Read more

September 30, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – September 2011

Political Risk is Rising What an ugly month! The Barclays Corporate Index posted -333 basis points (bps) of excess return […]

Read more

September 9, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – August 2011

Leadership The Corporate credit market turned up in July, posting 33 basis points (bps) of excess return per the Barclays […]

Read more

August 9, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – July 2011

Mid-Year Review and Outlook Investment grade corporate bond spreads widened again last month, producing -35 basis points (bps) of excess […]

Read more

July 18, 2011 | Categories: Corporate Credits, Industry Insight

Credit Developments in the UK Bank Sector

During the 2007/2008 financial crisis, the United Kingdom (UK) government was forced to take material ownership stakes in the Royal […]

Read more

July 13, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – June 2011

How Important Are The Autos? Investment grade corporate bond spreads widened last month, producing -39 basis points (bps) of excess […]

Read more

June 9, 2011 | Categories: Corporate Credits, Industry Insight

A Tale of Two Retailers

A Tale of Two Retailers   In this thought leadership piece, we analyze the home improvement sector of the retail industry. […]

Read more

June 6, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – May 2011

More Buyers than Sellers – Is it Really that Simple? There was a strong bid for Corporate bonds last month, […]

Read more

May 4, 2011 | Categories: Corporate Credits, Industry Insight

Oil Service and Driller Results Will be Strong for the Remainder of 2011 – Will Returns Be Strong Too?

Oil Service and Driller Results Will Be Strong for the Remainder of 2011 – Will Returns Be Strong Too? Oil […]

Read more

April 21, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – April 2011

Will Higher Commodity Prices Result in Wider Spreads? Spreads widened in March, as we had expected, but have rebounded sharply […]

Read more

April 8, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – March 2011

Too Far Too Fast? As equity markets sell off due to concerns about global growth, whether it be from the […]

Read more

March 15, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – February 2011

2011 Outlook   We believe the Corporate market faces less uncertainty relative to this time last year, and that is reflected […]

Read more

February 7, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – January 2011

The Corporate market as represented by Barclays Capital Corporate Index posted positive excess returns of 229 basis points (bps). While […]

Read more

January 10, 2011 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – December 2010

How Contagious is It? The Corporate market experienced a modest pullback in late November driven by credit spread widening associated […]

Read more

December 1, 2010 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – November 2010

If You Build It, Will They Come? The elevated mood of the markets continued in October. The Corporate bond market, […]

Read more

November 12, 2010 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – October 2010

How Should I Spend My Cash?  While not as strong as the equity market, the investment grade credit market as […]

Read more

October 6, 2010 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View – September 2010

Is It Really That Bad? Earnings season is almost over and while the data was positive overall, management commentary coupled […]

Read more

September 2, 2010 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View — August 2010

Can We Still “Bank” on Economic Growth in the Second Half of 2010? After a volatile three months, Corporate spreads […]

Read more

August 4, 2010 | Categories: Corporate Credits, Industry Insight

AAM Corporate Credit View — July 2010

Is Muted Growth Less Than Zero? June was another volatile month for Corporate credit (Exhibit 1 in original PDF). Spreads […]

Read more

July 7, 2010 | Categories: Corporate Credits, Industry Insight

What Kind of Insurer Are You?

The kind of business your company underwrites will determine many aspects of your investment approach.

Property & Casualty

AAM can help you find the right mix of taxable and tax-exempt assets to generate the optimal after-tax net income.
Learn more

Life

AAM's expertise in asset/liability modeling can help you maximize the spread between income and crediting rates.
Learn more

Health

AAM can help you navigate a changing environment with appropriate liquidity.
Learn more

Captive

AAM can provide the advice and industry experience to help you make the right decisions for your members.
Learn more

Energy Companies Can Withstand the Instability in Russia

Read publication

Featured AAM Publication
th-featured-publication-b

Commercial Mortgage Loans: A Historically Attractive Class for Insurance Investors

Read publication

Featured AAM Publication

AAM executives frequently attend or speak at industry conferences.

Check the listings on our News page.

Upcoming Conferences