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Insights & Commentary

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
August 2023 Municipal Market Comments

Yields Rose and the Inversion Lessened in August

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Baird Advisors
Commentary
July 2023 Bond Market Comments

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

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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
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 Chautauqua International & Global Growth Funds Commentary and Market Outlook

Growth stocks underperformed value style stocks in both international developed and emerging markets, but significantly outperformed value in the U.S. market. The Funds underperformed their benchmarks during the quarter.

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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 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 Municipal Market Comments

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

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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
February 2023 Bond Market Comments

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

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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
January 2023 Bond Market Comments

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

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Baird Advisors
Commentary
January 2023 Municipal Market Comments

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

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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 Advisors
Commentary
December 2022 Bond Market Comments

2022 Taxable Bond 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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Baird Advisors
Commentary
December 2022 Municipal Market Comments

2022 Municipal Market Review

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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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Baird Advisors
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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Baird Advisors
Commentary
October 2022 Bond Market Comments

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

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Baird Advisors
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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Baird Advisors
Commentary
September 2022 Bond Market Comments

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

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Baird Advisors
Commentary
September 2022 Municipal Market Comments

Rates Higher and Curve Flatter in Q3 on Committed Fed

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Baird Advisors
Commentary
August 2022 Bond Market Comments

Bond Yields Rise on Strong Data and Hawkish Fed Messaging

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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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Baird Advisors
Commentary
July 2022 Bond Market Comments

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

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Baird Advisors
Commentary
July 2022 Municipal Market Comments

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

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Baird Advisors
Commentary
June 2022 Municipal Bond Market Comments

Higher Rate Trend Continues in Q2, Municipal Curve Steepens

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Baird Advisors
Commentary
June 2022 Bond Market Comments

Upside Inflation Surprise Emboldens Hawkish Fed, Odds of Recession Rise

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Baird Advisors
Commentary
May 2022 Bond Market Comments

Investment Grade Bond Prices Rise as Fed Tightening Cools Economic Data

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Baird Advisors
Commentary
May 2022 Municipal Market Comments

Mid-Month Pivot in Municipal Yields and Industry Fund Flows

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Baird Advisors
Thought Leadership
OK Boomers - Bonds Are Back

Higher yields a bright spot for bond investors

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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 Bond Market Comments

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

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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 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 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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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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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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