Category Archives: corporate bond
An Insane Bond Market In 4 Charts: “Italian Junk Bonds Yield Less Than US Treasurys”
In our “WTF Chart of the day” from last Friday, we showed something stunning: European junk bonds yields were the same, and in some cases lower, than comparable-maturity 10Y US Treasurys. In other words, the distortion unleashed by Mario Draghi’s CSPP, or corporate bond buying program unveiled last March, has made European junk bonds “safer” […]
China ‘Rescues’ Bond Market In Symbolic Move But Yield Curve Remains Inverted
For the 10th day in a row, China's bond yield curve remains inverted (the longest in history). With yields at 3-year highs, corporate bond issuance is evaporating, and has now emerged as the latest major, and most imminent, threat facing China's financial sector and $10 trillion corporate debt market. However, it appears Chinese authorities have […]
Bill Blain Flips Out: “Not Much Surprises Me Any More About Markets, But Really? Really!?”
On Monday morning, we reported that in a stunning development, chronic defaulter Argentina – which just one year ago emerged from its latest bankruptcy – has found enough willing greater fools to sell 100-year bonds to. One person who especially stunned, was Mint’s Bill Blain, who issued an entire note describing his disgust with what […]
Credit Suisse “Climbs The Wall Of Worry”, Raises S&P Target To 2,500 From 2,350
Following bearish reports from Goldman (which tactically downgraded stocks to Neutral for the next three months just hours before the Fed rate hike), RBC and JPM’s head quant Marko Kolanovic over the past week, overnight Credit Suisse decided to take the other side of the trade and hiked its year end forecasts for the S&P500, […]
“Do We Have A Liquidity Problem Post-Crisis?” Fed Vice Chair Fischer Answers – Live Feed
Vice Chairman Stanley Fischer is speaking at the Brookings Institution in Washington, on the topic of “Do We Have a Liquidity Problem Post-Crisis?” Not surprisingly, Fischer’s answer is that “liquidity is adequate by most measures, in most markets, and most of the time” and adds that it is “certainly too soon to declare that a […]
While The World Watches US Presidential Elections
By Chris at www.CapitalistExploits.at Market dislocations occur when financial markets, operating under stressful conditions, experience large widespread asset mispricing. Welcome to this week’s edition of “World Out Of Whack” where every Wednesday we take time out of our day to laugh, poke fun at and present to you absurdity in global financial markets in all its glorious insanity. While we […]
We’re in the Early Stages of Largest Debt Default in US History
wolfstreet.com / by Porter Stansberry • November 10, 2015 We are in the early stages of a great debt default – the largest in U.S. history. We know roughly the size and scope of the coming default wave because we know the history of the U.S. corporate debt market. As the sizes of corporate bond deals have grown […]
For The First Time Ever, Corporate Bond Inventories Turn “Negative” – What This Means
zerohedge.com / by Tyler Durden on 11/10/2015 15:25 As we noted previously, for the first time ever, primary dealers’ corporate bond inventories have turned unprecedentedly negative. While in the short-term Goldman believes this inventory drawdown is probably a by-product of strong customer demand, they are far more cautious longer-term, warning that the “usual suspects” are […]