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Insights

Read More News From Baird Asset Management
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Controversies in AI in light of DeepSeek

Chautauqua Capital shares insights on how DeepSeek has disrupted the AI market.

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April 2025 Bond Market Comments

Treasury Curve Steepens Amid Elevated Volatility Following Significant Tariff Announcements

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April 2025 Municipal Market Comments

Municipal Yields Rise - Extreme Intra-Month Volatility in April

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Baird Equity Asset Management
Commentary
Q1 2025 Equity Opportunity Fund Commentary

Equities struggled in the first quarter as the Trump administration proposed significant, broad-based tariffs as the cornerstone of its economic policy.

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Baird Advisors
Commentary
April 2025 Municipal Market Comments

Municipal Yields Rise - Extreme Intra-Month Volatility in April

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Commentary
Baird Advisors
April 2025 Bond Market Comments

Treasury Curve Steepens Amid Elevated Volatility Following Significant Tariff Announcements

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Baird Equity Asset Management
Commentary
Q1 2025 Mid Cap Growth Strategy Commentary

Underperformance was concentrated in the first half of the quarter as the portfolio lagged during the sharp market advance.

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Baird Equity Asset Management
Commentary
Q1 2025 Small/Mid Cap Growth Commentary

Other than modest underperformance in technology and financials, all other major sectors drove positive relative returns in the first quarter.

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Commentary
Baird Equity Asset Management
Q1 2025 International and Global Growth Fund Commentary

Volatility disrupted global markets in the quarter amidst U.S. tariff policies and geopolitical tensions.

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Commentary
Baird Advisors
March 2025 Bond Market Comments

Treasury Yields Decline in Q1 Amid Policy Uncertainty and Lower Economic Growth Forecasts

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Baird Advisors
Commentary
March 2025 Municipal Market Comments

Municipal Yields Rise in Q1 Amid Heavy Supply

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Thought Leadership
Baird Equity Asset Management
Controversies in AI in light of DeepSeek

Chautauqua Capital shares insights on how DeepSeek has disrupted the AI market.

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Baird Advisors
Commentary
February 2025 Bond Market Comments

Treasury Yields Fall on Softer Economic Data and Policy Uncertainty

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Baird Advisors
Commentary
February 2025 Municipal Market Comments

Tax-exempt Yields Fall and Supply Remains Robust

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Baird Advisors
Commentary
January 2025 Bond Market Comments

Treasury Yields Decline, Fed Holds Policy Rate Steady as Attention Turns to the Trump Administration’s Policy Agenda

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Baird Advisors
Commentary
January 2025 Municipal Market Comments

Curve Steepens and Tax-exempt Yields Fall Despite Strong January Supply

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Baird Equity Asset Management
Commentary
Q4 2024 Small/Mid Cap Growth Commentary

The market moved through three distinct phases in the fourth quarter, defined almost exactly by the monthly turn of the calendar.

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Baird Equity Asset Management
Commentary
Q4 2024 Equity Opportunity Fund Commentary

Equities in 2024 were buoyed by strength in the U.S. economy and the start of a Federal Reserve easing cycle. The Fund delivered a net return of +14.2% in Q4, compared to a +0.3% return for the benchmark.

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Commentary
Baird Equity Asset Management
Q4 2024 Mid Cap Growth Strategy Commentary

The market moved through three distinct phases in the fourth quarter, defined almost exactly by the monthly turn of the calendar.

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Baird Equity Asset Management
Commentary
Q4 2024 International and Global Growth Fund Commentary

U.S. equities outperformed international equities amid a backdrop of monetary policy easing and U.S. election hype.

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Commentary
Baird Advisors
December 2024 Bond Market Comments

2024 Bond Market Review

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Commentary
Baird Advisors
December 2024 Municipal Market Comments

2024 Municipal Market Review

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Baird Equity Asset Management
Thought Leadership
A World Full of Opportunities

Long-term investors should consider the potential benefits of maintaining an allocation to international equities.

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Baird Advisors
Commentary
November 2024 Municipal Market Comments

Tax-exempt Yields Fall in November

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Baird Advisors
Commentary
November 2024 Bond Market Comments

Treasury Yields Volatile as Election Concludes and Fed Cuts Rates as Expected

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Baird Advisors
Commentary
October 2024 Bond Market Comments

Treasury Yields Climb Sharply on Resilient Data and Reduced Expectations of Fed Easing

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Baird Advisors
Commentary
October 2024 Municipal Market Comments

Municipal Yields Rise in October

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Baird Equity Asset Management
Commentary
Q3 2024 Equity Opportunity Fund Commentary

Equities posted a strong quarter on the back of encouraging economic data and the anticipation of a series of interest rate cuts by the Federal Reserve.

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Baird Equity Asset Management
Commentary
Q3 2024 Small/Mid Cap Growth Strategy Commentary

Factors were not a major headwind or tailwind as the strategy kept pace with a solid benchmark return in the quarter.

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Baird Equity Asset Management
Commentary
Q3 2024 Mid Cap Growth Strategy Commentary

The Strategy’s strong absolute returns were spurred by the market’s embrace of easing inflation data, and the prospect that lower interest rates will allow the U.S. economy to avoid recession.

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Baird Equity Asset Management
Commentary
Q3 2024 International and Global Growth Fund Commentary

Equity markets continued to rally throughout the third quarter, with strong positive strock returns, globally.

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Baird Advisors
Commentary
September 2024 Bond Market Comments

Fed Cuts 50 bps, Positive 2s10s Curve Slope Returns as Short Rates Fall the Most

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Baird Advisors
Commentary
September 2024 Municipal Market Comments

Municipal Yields Fall through Q3 Even as Supply Soars

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Baird Advisors
Commentary
August 2024 Municipal Market Comments

Municipal Curve Returns to Positive Slope

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Baird Advisors
Commentary
August 2024 Bond Market Comments

Fed Chair Powell Signals First Rate Cut in September, Helping to Normalize the Yield Curve

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Baird Advisors
Commentary
July 2024 Bond Market Comments

Treasury Yields Decline as Inflation Cools and Fed Signals Forthcoming Cuts

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Baird Advisors
Commentary
July 2024 Municipal Market Comments

Municipal Yields Fall in July on Strong Demand and Still Robust Supply

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Baird Equity Asset Management
Commentary
Q2 2024 Small/Mid Cap Growth Commentary

The well-known S&P 500 advanced in the quarter, a stark contrast to declines in the broader small and mid-cap equity indices.

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Baird Equity Asset Management
Commentary
Q2 2024 Equity Opportunity Fund Commentary

While larger-cap equities reached new heights, smaller-cap stocks continued to struggle during the quarter.

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Commentary
Baird Equity Asset Management
Q2 2024 Mid Cap Growth Strategy Commentary

The well-known S&P 500 advanced in the quarter, a stark contrast to declines in the broader small and mid-cap equity indices.

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Baird Equity Asset Management
Commentary
Q2 2024 International and Global Growth Fund Commentary

Appreciation in global equity markets continued in the quarter and the Funds outperformed their indices.

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Baird Advisors
Commentary
June 2024 Municipal Market Comments

Municipal Yields Fall in June, Rise in Q2 and Supply Booms

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Commentary
Baird Advisors
June 2024 Bond Market Comments

Treasury Yields Fall in June but End Higher for Q2, Resilient Economy Likely Delays Fed Rate Cuts

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Baird Advisors
Commentary
May 2024 Municipal Market Comments

Municipal Yields Mixed in May on Supply Surge

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Baird Advisors
Commentary
May 2024 Bond Market Comments

Yields Fall as Labor Market and Inflation Cools after Q1 Upside Surprise

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Baird Equity Asset Management
Commentary
Q1 2024 Equity Opportunity Fund Commentary

Equities continued their ascent to the start of the year, bolstered by hopes of easing monetary policy.

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Baird Advisors
Commentary
April 2024 Municipal Market Comments

Municipal Yields Continued to Rise in April

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Baird Advisors
Commentary
April 2024 Bond Market Comments

Yields Rise on Stubborn Inflation, Firm Labor Market and Reduced Fed Rate Cut Expectations

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Baird Equity Asset Management
Commentary
Q1 2024 Small/Mid Cap Growth Commentary

The Baird SMID Growth portfolio produced a positive return, with mixed performance across the portfolio, but the net result trailed the sharp increase in the benchmark.

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Baird Equity Asset Management
Commentary
Q1 2024 Mid Cap Growth Strategy Commentary

The Baird Mid Cap Growth portfolio produced a positive return with all sectors advancing, but the net result trailed the sharp increase in the Russell Mid Cap Growth Index.

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Baird Equity Asset Management
Commentary
Q1 2024 International & Global Growth Funds Commentary

Global equity markets staged another broad rally for the first quarter, with the Funds outperforming their benchmarks.

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Commentary
Baird Advisors
March 2024 Bond Market Comments

Treasury Yields Rise in Q1 as Markets Reduce Fed Rate Cut Expectations on Stronger than Expected Growth and Inflation

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Baird Advisors
Commentary
March 2024 Municipal Market Comments

Municipal Yields Rise in Q1 and Demand Returns

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Baird Advisors
Commentary
February 2024 Bond Market Comments

Strong Economic Data and Reduced Fed Rate Cut Expectations Lift Treasury Yields

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Commentary
Baird Advisors
February 2024 Muncipal Market Comments

Strong Demand Meets Increased Supply

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Commentary
Baird Equity Asset Management
Q4 2023 Equity Opportunity Fund Commentary

Equities bounced back in 2023, as easing inflation raised hopes for looser monetary policy and drove valuations higher.

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Commentary
Baird Advisors
January 2024 Municipal Market Comments

Tax-exempt Yields Rise as Supply Returns to the Market

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Baird Advisors
Commentary
January 2024 Bond Market Comments

Rangebound Treasury Yields with a Steepening Bias, Inflation Cooling Alongside Resilient US Economy

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Thought Leadership
Baird Advisors
Income Driven Investing

Baird Advisors explores how income driven investing could be a successful new way to manage interest rate risk.

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Baird Advisors
Thought Leadership
Top Ten Reasons To Like Bonds Now

Baird Advisors Shares Timely Insights for Bond Investors

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Baird Equity Asset Management
Commentary
Q4 2023 Small/Mid Cap Growth Commentary

There were various drivers of underperformance in the quarter, as there were a multitude of factors that changed significantly, particularly in December. These factors were broadly negative for our style of management as more highly levered, lower-margin, and lower-earnings growth companies outperformed.

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Baird Equity Asset Management
Commentary
Q4 2023 Mid Cap Growth Strategy Commentary

While the full-quarter results still lagged the benchmark, we were encouraged by the portfolio’s outperformance during the strong move into year-end as we saw the breadth of positive performance spread more evenly across sectors.

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Baird Equity Asset Management
Commentary
Q4 2023 Chautauqua International & Global Growth Funds Commentary

Equity markets rallied to close out the year as fiscal conditions loosened; the Funds performed in line with benchmarks.

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Baird Advisors
Commentary
December 2023 Bond Market Comments

2023 Review and 2024 Outlook

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Baird Advisors
Commentary
December 2023 Municipal Market Comments

2023 Review and 2024 Outlook

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Baird Advisors
Commentary
November 2023 Bond Market Comments

Treasury Yields Decline Sharply on Market Hopes for 2024 Rate Cuts and Economic Soft Landing

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Baird Advisors
Commentary
November 2023 Municipal Market Comments

Massive Rally in November; Municipals Outperform Treasuries

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Baird Advisors
Commentary
October 2023 Bond Market Comments

Trend of Rising Yields Continues as Inflation Remains Above Target and Term Premium Rises

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Baird Advisors
Commentary
October 2023 Municipal Market Comments

Yields Trend Higher and Curve Steepens Led by Rise in Long-term Rates

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Baird Equity Asset Management
Commentary
Q3 2023 Small/Mid Cap Growth Commentary

Equity markets took a step down in the quarter, giving back a portion of first half gains.

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Baird Equity Asset Management
Commentary
Q3 2023 Equity Opportunity Fund Commentary

The portfolio underperformed the Russell 2000 Index during the quarter. Market performance remained narrow and again heavily favored larger capitalization stocks.

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Baird Equity Asset Management
Commentary
Q3 2023 Mid Cap Growth Strategy Commentary

Equity markets took a step down in the quarter, giving back a portion of first half gains. A notable run-up in interest rates reflecting still above trend inflation, a healthy labor market with rising wage rates, and a growing concern about the domestic fiscal situation was too much for stocks to handle.

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Baird Advisors: Bonds are Back

Fixed income team provides insights on bond market and outlook for investors.

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Baird Equity Asset Management
Commentary
Q3 2023 Chautauqua International & Global Growth Funds Commentary

Third quarter ended much differently than it started as growing acceptance of globally higher rates for longer resulted in markets finishing negative. In this environment, the Funds underperformed their benchmarks.

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Thought Leadership
Baird Equity Asset Management
Investing in China: Weighing the Risks and Opportunities

Chautauqua addresses China-specific risks and how we select companies in our international and global portfolios.

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Commentary
Baird Advisors
September 2023 Municipal Market Comments

Yields Rise Sharply in September and Q3; Steepening Trend Reduces Curve Inversion

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Baird Advisors
Commentary
September 2023 Bond Market Comments

Yields Rise Sharply as Fed Reinforces Higher for Longer Messaging on Stronger Than Expected Growth and Sticky Inflation

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Baird Advisors
Commentary
August 2023 Municipal Market Comments

Yields Rose and the Inversion Lessened in August

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Baird Advisors
Commentary
August 2023 Bond Market Comments

Fitch Downgrades US Treasury Debt to AA+, 10yr Reaches Highest Yield Since 2007 on Resilient Economic Data

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Baird Advisors
Commentary
July 2023 Municipal Market Comments

Yields Were Steady in July, Curve Inversion Persists

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Commentary
July 2023 Bond Market Comments

Fed Hikes in July, US GDP Strength Lifts Long Treasury Yields

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Commentary
Baird Equity Asset Management
Q2 2023 Small/Mid Growth Commentary

While the portfolio underperformed its benchmark in Q2, stock indices and the portfolio rose in the second quarter and capped off a solid first half of the year.

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Baird Equity Asset Management
Commentary
Q2 2023 Equity Opportunity Fund Commentary

The portfolio underperformed the Russell 2000 Index during the quarter. However, the Fund remains modestly ahead of the index YTD, and continues to demonstrate a strong, longer-term track record.

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Commentary
Baird Advisors
June 2023 Municipal Market Comments

Curve Inversion Persists as Rates Rise in Q2

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Commentary
Baird Advisors
June 2023 Bond Market Comments

Treasury Yields Rise and Curve Inversion Deepens as Fed Skips June Hike but Maintains Hawkish Stance

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Baird Advisors
Commentary
May 2023 Municipal Market Comments

Tax-exempt Yields Rise and the Curve Flattens in May

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Baird Advisors
Commentary
May 2023 Bond Market Comments

Treasury Yields Climb on Resilient Economic Data, Fading Regional Bank Concerns and Debt Ceiling Uncertainty

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Baird Advisors
Commentary
April 2023 Bond Market Comments

Treasury Yields Stabilize Despite Sticky Inflation Data and Looming Debt Ceiling Uncertainty

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Baird Advisors
Commentary
April 2023 Municipal Market Comments

Municipal Yields Rise as the Curve Inverts Further in April

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Baird Equity Asset Management
Commentary
Q1 2023 Equity Opportunity Fund Commentary

The portfolio outperformed the Russell 2000 Index in Q1 2023. Equity markets were resilient despite increased volatility in the small-cap arena.

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Baird Equity Asset Management
Commentary
Q1 2023 Small/Mid Cap Growth Commentary

The portfolio outperformed the Russell 2500 Growth Index in Q1 2023. Our strategy is off to a nice start in 2023, driven by numerous stocks across several sectors

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Baird Equity Asset Management
Commentary
Q2 2023 Mid Cap Growth Strategy Commentary

The portfolio outperformed the Russell MidCap® Growth Index in Q1, where strength was fairly broad-based and relatively consistent during the risk-on/risk-off trading behavior of the overall market.

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Commentary
Baird Equity Asset Management
Q1 2023 Chautauqua International & Global Growth Funds Commentary and Market Outlook

Our Funds outperformed their benchmarks in Q1; a rotation back to growth stocks led equity markets with stock selection driving the funds’ strong performance.

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Commentary
Baird Equity Asset Management
Q4 2022 Commentary and Market Outlook

An era of low inflation and low interest rates has ended. Inflation is running at its fastest pace in decades in many places, and a range of central banks are pushing rates quickly higher.

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Baird Advisors
Commentary
March 2023 Bond Market Comments

Large Market Swings as Fed Forced to Balance Inflation Fight with Financial Stability Concerns

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Baird Advisors
Commentary
March 2023 Municipal Market Comments

Municipal Yields Decline in Q1 Led by Sharply Lower Rates in March

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Baird Advisors
Commentary
February 2023 Municipal Market Comments

Tax-exempt Rates Rose in February, Reversing the January Decline

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Baird Advisors
Commentary
February 2023 Bond Market Comments

Treasury Yields Rose in February on Stronger than Expected Growth and Inflation Data

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Commentary
January 2023 Municipal Market Comments

Favorable Supply/Demand Backdrop Provides Strong Start for Municipals in 2023

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Baird Advisors
Commentary
January 2023 Bond Market Comments

Solid Start to 2023 as Pace of Fed Rate Hikes Slow and Flows Turn Positive

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Commentary
Baird Equity Asset Management
Q4 2022 Small/Mid Cap Growth Commentary

The portfolio underperformed the Russell 2500 Growth Index in Q4 2022, where relative gains in some sectors were offset by relative declines in several others.

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Baird Equity Asset Management
Commentary
Q4 2022 Mid Cap Growth Strategy Commentary

The portfolio underperformed the Russell MidCap® Growth Index in Q4, where the collective drag of several challenged sectors offset outperformance in other areas.

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Baird Equity Asset Management
Commentary
Q4 2022 Equity Opportunity Fund Commentary

The portfolio outperformed the Russell 2000 Index during the quarter, while equities sank in 2022 as persistent inflation forced interest rates higher and valuations lower.

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Baird Advisors
Commentary
December 2022 Bond Market Comments

2022 Taxable Bond Market Review

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Baird Advisors
Commentary
December 2022 Municipal Market Comments

2022 Municipal Market Review

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Baird Equity Asset Management
Commentary
Q4 2022 Chautauqua International & Global Growth Funds Commentary

Chautauqua's growth funds ended the year with a strong fourth quarter. Health care stocks led the way as our funds delivered solid Q4 returns.

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Thought Leadership
Baird Equity Asset Management
Consider Actively Managed International Equity Funds for Diversification

Worldwide investing offers an expanded opportunity set.

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Baird Advisors
Commentary
November 2022 Municipal Market Comments

Impressive Decline in Tax-exempt Rates in November

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Commentary
November 2022 Bond Market Comments

Bond Market Rallies Sharply on Additional Signs of Cooling Inflation

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Baird Equity Asset Management
Commentary
Q3 2022 Equity Opportunity Fund Commentary

The portfolio underperformed the Russell 2000 Index fractionally during the quarter but has meaningfully outperformed the benchmark year-to-date.

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Commentary
October 2022 Bond Market Comments

Treasury Yields Climb Further as the Prospect for Additional Tightening Remains Intact

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Commentary
October 2022 Municipal Market Comments

Rates March Higher with a Steepening Bias

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Baird Equity Asset Management
Commentary
Q3 2022 Small/Mid Cap Growth Commentary

The portfolio slightly underperformed in Q3 mostly due to its style positioning versus the benchmark, the Russell 2500 Growth Index.

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Baird Equity Asset Management
Commentary
Q3 2022 Mid Cap Growth Strategy Commentary

The portfolio outperformed the Russell MidCap® Growth Index in Q3, where the benchmark started positive but ended negative after rising rates and murky economic outlook news.

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Baird Equity Asset Management
Commentary
Q3 2022 Chautauqua International & Global Growth Funds Commentary

As global stocks continued to suffer from inflation and supply chain disruptions during the period, Chautauqua's International and Global Growth Funds outperformed their benchmarks.

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Commentary
September 2022 Bond Market Comments

Treasury Yields Reach New 2022 Highs in September Capping a Difficult Quarter for Bonds

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Commentary
September 2022 Municipal Market Comments

Rates Higher and Curve Flatter in Q3 on Committed Fed

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Baird Advisors
August 2022 Municipal Market Comments

Municipal Rates Rise Led by Short-term Maturities, Flattening the Curve

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Commentary
August 2022 Bond Market Comments

Bond Yields Rise on Strong Data and Hawkish Fed Messaging

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Commentary
July 2022 Bond Market Comments

Real GDP Declines in Back-to-Back Quarters, Fixed Income Rallies Sharply

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Commentary
July 2022 Municipal Market Comments

Rates Fall Across Curve, Strong State Credits – Case in Point: Florida

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Commentary
June 2022 Bond Market Comments

Upside Inflation Surprise Emboldens Hawkish Fed, Odds of Recession Rise

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Commentary
June 2022 Municipal Bond Market Comments

Higher Rate Trend Continues in Q2, Municipal Curve Steepens

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Commentary
May 2022 Bond Market Comments

Investment Grade Bond Prices Rise as Fed Tightening Cools Economic Data

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Commentary
May 2022 Municipal Market Comments

Mid-Month Pivot in Municipal Yields and Industry Fund Flows

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Baird Advisors
Commentary
April 2022 Bond Market Comments

Bond Yields Climb as a More Hawkish Fed Signals Steepest Hiking Cycle Since Mid-1990s

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Baird Advisors
Commentary
April 2022 Municipal Market Comments

Inflation and Outflows Cause Parallel Shift Higher in Municipal Curve

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Baird Advisors
Commentary
March 2022 Bond Market Comments

Fed Rate Hikes Officially Begin, Treasury Yields Surge in March Capping a Difficult Quarter

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Baird Advisors
Commentary
March 2022 Municipal Market Comments

Sharp Rate Rise, Curve Flattening Significantly Improves Tax-exempt Income and Valuations

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Baird Advisors
Commentary
February 2022 Municipal Market Comments

Rates Rise and Curve Flattens on Fed and Geopolitical Uncertainty, Municipal Credit Strength Limits Spread Widening, Negative Returns in February on Rising Rates; Lower-Quality Underperforms

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Baird Advisors
Commentary
February 2022 Bond Market Comments

Russian Invasion of Ukraine Moves Markets, Credit Spreads Wider in February, Returns Negative

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Baird Equity Asset Management
Thought Leadership
Why the Value Rotation is Not Secular

After years of consistent outperformance, Growth stocks have lagged Value stocks since November 2020. Will this rotation to Value represents a secular change in market leadership?

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Baird Advisors
Commentary
January 2022 Municipal Market Comments

Liquidity Fades on Selling Pressure Driving Municipal Yields Sharply Higher, Puerto Rico Exits Bankruptcy, Sharply Negative Returns to Start 2022

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Baird Advisors
Commentary
January 2022 Bond Market Comments

Fed Articulates Faster Path of Policy Tightening to Fight Inflation; Yields Climb Sharply, Credit Spreads Widen; Agency RMBS Model Changes, January Returns Negative Across the Board

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Joe Lorbert, Alice Ambrowiak, Warren Pearson and Jay Schwister in a discussion.
Finding Value in Today’s Bond Market

Baird Advisors reflects on the economy and fixed income markets in their latest outlook.

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There Are Benefits to Rising Rates

The Advantages of Higher Interest Rates for Fixed Income Investors

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Baird Advisors
Thought Leadership
Better Together

Baird’s fixed income team illustrates how the moderate tax rate investors can benefit by investing in both the taxable and tax-exempt markets in their fixed income allocations.

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