Oppenheimer Asset Management

John Stoltzfus, chief investment strategist at Oppenheimer Asset Management, explains his top-down view of markets, the economy and asset allocation.

The changing demographics of the municipal bond market in recent years, coupled with their reliable tax-free-income stream, has made munis a compelling core allocation for today’s fixed-income investors.

Lower correlations, coupled with greater dispersion of volatility across sectors, highlight the importance of asset allocation and could lead to more opportunities for outperformance by active managers over passive beta strategies.