Silver as an investment

Category Archives: High Yield

In The Shadows Of Black Monday – “Volatility Isn’t Broken… The Market Is”

By silveristhenew | Published October 21, 2017

Authored by Christopher Cole via Artemis Capital Management, Volatility and the Alchemy of Risk The Ouroboros, a Greek word meaning ‘tail devourer’, is the ancient symbol of a snake consuming its own body in perfect symmetry. The imagery of the Ouroboros evokes the infinite nature of creation from destruction. The sign appears across cultures and […]

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The Crash Of ’87 Remembered: “It Was Clear The Acapulco Cliff-Dive Was On For Monday”

By silveristhenew | Published October 16, 2017

“The markets in a panic are like a country during a coup, and seen in retrospect that is how they were that day,” wrote a young Salomon bond salesmena named Michael Lewis, of the chaos he witnessed. “One small group of people with its old, established way of looking at the world is hustled from […]

Also posted in Alan Greenspan, Bond, business, Counterparties, Dow 30, Economy, finance, Financial crisis of 2007–2008, financial markets, fixed, flash, Great Depression, Harley Bassman, high-frequency trading, Howard Marks, Japan, Merrill, Merrill Lynch, Michael Lewis, money, Paul Tudor Jones, Peter Borish, Program Trading, Share trading, short, Stanley Druckenmiller, Stock Market, systemic risk, US Federal Reserve | Comments Off on The Crash Of ’87 Remembered: “It Was Clear The Acapulco Cliff-Dive Was On For Monday”

Gallo Warns: A Volatility Trap Is Inflating Market Bubbles

By silveristhenew | Published October 5, 2017

Authored by Alberto Gallo via Bloomberg.com, A number of markets show not only elevated valuations, but also irrational investor behavior… Investors face a conundrum: The world is experiencing a record synchronous growth phase, but an increasing number of assets are becoming overvalued just as fundamental risks lurk in the background. Should investors continue to dance […]

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Party Like Its July 2007: Corporate Bond Spreads Tumble To Ten Year Lows

By silveristhenew | Published October 5, 2017

The bond bubble is right back where it started. After a torrid three-week rally, high grade corporate bond spreads as measured by the BoA/ML Corporate Master Index OAS yesterday hit a fresh post-crisis tight level of 105bps, down from 105 bps on Tuesday and inside the low of 106bps from the summer of 2014. That’s […]

Also posted in banking, Bond, business, China, corporate bond, Economy, finance, High Yield Debt, Mikkelsen, money, OAS, Private Equity, United States housing bubble | Comments Off on Party Like Its July 2007: Corporate Bond Spreads Tumble To Ten Year Lows

“Tremendous” Demand For 7Y Treasurys; Second Largest Buyside On Record

By silveristhenew | Published September 28, 2017

An ugly 2Y auction (with the highest yield since 2008) on Tuesday, a mediocre 5Y auction yesterday, and now a blistering 7Y auction, in which the Treasury sold $28 billion in “curve belly” notes at a high yield of 2.13%, stopping through the When Issued by a surprisingly strong 1.1bps, the highest since April. As […]

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Bill Blain: How To Catch Rabies In The Junk Bond Market

By silveristhenew | Published September 22, 2017

From Bill Blain of Mint Partners Blain’s Morning Porridge – How to catch rabies in the Junk Bond Market I’m sure everyone has been following the Toy R Us meltdown in the bond market. Alongside chapter 11 bankruptcy, its bonds have crashed from 96 to 18% through the month. Have we seen this before? Of […]

Also posted in Bain, Bond, business, capital structure, Corporate Finance, credit, Debt, Economy, finance, High Yield Debt, KKR, LBO, Leveraged buyout, Meltdown, money, Private Equity, United States housing bubble | Comments Off on Bill Blain: How To Catch Rabies In The Junk Bond Market

Soros’ Worst Trade

By silveristhenew | Published August 31, 2017

Authored by Kevin Muir via The Macro Tourist blog, There is this Canadian rock star who retired a few years back and took up hosting an afternoon drive-home radio show on a local Toronto station. Sometimes his program includes a segment called, “Damn! I wish I wrote that.” This ex-rock star will play a famous […]

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Primary Dealer Bid Surges In Poor 2Y Auction

By silveristhenew | Published August 28, 2017

While the high yield of the just priced 2Y auction came “on the screws” at 1.345%, below last month’s 1.401%, but above the six previous auction average of 1.305%. and exactly where the When Issued suggested today’s auction of $26 billion in 2Y notes would price, the internals were decidedly weaker than the stop out […]

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“The Dreaded Phase 4”: What Happens When Credit Spreads Finally Rise

By silveristhenew | Published August 19, 2017

With investors, traders, analysts and pundits focused on the chaos in the White House, and the daily barrage of escalating geopolitical and social news, whether terrorist attacks in Europe or clashes in inner America, the market is finally starting to notice as Friday’s last hour sell-off demonstrated. And yet, according to one of the best […]

Also posted in 'financial crises", Bank of Japan, Barclays, Bear Market, Bloomberg Barclays, Bond, business, Capital Markets, Central Banks, Citigroup, corporate bond, Corporate Leverage, Economy, Equity Markets, European Central Bank, finance, fixed, Global Systemically Important Banks, Gundlach, High Yield Debt, inner America, money, Primary Dealers, Recession, Subprime mortgage crisis, United States housing bubble, US Federal Reserve, Volatility, White House | Tagged | Comments Off on “The Dreaded Phase 4”: What Happens When Credit Spreads Finally Rise

SocGen: “Low Vol Can Misprice High Yield By Up To 30%”

By silveristhenew | Published August 1, 2017

Yesterday it was Bank of America, today’s it’s SocGen’s turn. As we’ve repeatedly stated in the past, not a day seems to pass without some broker, investor, sellside analyst or pundit (this website certainly included) opining on i) how low the Vix has fallen, ii) how much lower it will fall, and iii) how the […]

Also posted in Bank of America, business, Economy, Germany, Mathematical finance, recovery, SocGen, Technical Analysis, VIX, Volatility | Comments Off on SocGen: “Low Vol Can Misprice High Yield By Up To 30%”