Tom Graff is a fixed income strategist for Brown Advisory, an independent investment advisory firm in Baltimore, Md. Graff is also the manager of the Brown Advisory Tactical Bond Fund (BATBX), a long/short fixed income fund.Expand

Prior to joining Brown, Graff was a managing director and taxable fixed-income trader for Cavanaugh Capital Management in Baltimore. Graff earned a CFA charter in 2002.

The opinions expressed here are Graff's own and in no way the statements of Brown Advisory, and may or may not reflect the strategies being pursued for clients of Brown Advisory.

Graff welcomes your questions and can be reached at

My reaction to the Fed release, the SEP and Yellen's presser.

A Nuanced View of Fed Policy Real Money Pro($)

Three elements that shape each member's policy decisions.
Here's what I'm seeing across the bond market.

Six Questions on Bonds Real Money Pro($)

Let's look at what's actually going on with these big moves.
If you can afford to be selective, you can find them.
What it means for interest rates and the bond market.
Nearly all measures show consumption spending is pretty good.

The Time to Hike Rates Is Now Real Money Pro($)

The first Fed interest rate hike should have already happened.

Answering the 'Unthinkable' Real Money Pro($)

Here are my thoughts on Jeffrey Gundlach's comments yesterday.
This matters a lot for U.S. Treasuries.

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