Category Archives: Bonds

Happy St. Patrick’s (Maweyn Succat) Day!

Another Blast From The Past (BFTP).  Hard to believe this was seven years ago. Happy St. Patrick’s (Maweyn Succat) Day! St. Patrick, Ireland, St. Patrick’s Day. Simple, right? The man wasn’t even Irish! He was actually born in Britain around the … Continue reading

Posted in Bonds, General Interest, Picture of the Day, PIIGS | Tagged , , , , , , | 1 Comment

“Crowding Out” Caused The Q4 Stock Swoon

In what we consider one of our best and most timely all-time posts, The Gathering Storm In The Treasury Market 2.0, a must-read tome on the structural changes taking place in the U.S. Treasury market, we warned at the end of last … Continue reading

Posted in Bonds, Uncategorized | Tagged , | 8 Comments

Gundlach’s Coming Corporate Bondageddon

Nice piece in ZH on Jeff Gundlach dishing with Yahoo Finance on the vulnerability of the corporate bond market in the next recession.   In our data analysis piece, which we reposted below, we highlight the fact largest holders of U.S. corporate … Continue reading

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Millennials Rising, Market Risk Increasing

Righteous! Check out today’s cover of the Economist.   It confirms our ongoing analysis and illustrates why you should read the Global Macro Monitor, folks. It’s been almost exactly one year to the date since we posted,  Karl, The Comeback Kid?  We warned … Continue reading

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Ownership And Profile Of The Corporate Bond Market

Summary Nonfinancial corporates have amost doubled their stock of outstanding bonds since the GFC moving from 19.5 percent of GDP in 2007 to 26.5 percent in Q3 2018 Conversely,  the domestic financial sector has been delevering, reducing bond debt by … Continue reading

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Our Autopsy On The Still Living Bear Market

Summary We believe the market is way off base in its analysis of what caused stocks to sell hard in 2018 The U.S. and world have a debt problem and yields need to mover higher in order for markets to … Continue reading

Posted in Bonds, Equities, Uncategorized | 16 Comments

Yield Spike

We highlighted the potential risk in our post yesterday, Druckenmiller On Bonds If you listened to the Druckenmiller interview we posted on New Year’s Day,  he thrives in bear markets, not by shorting stocks but being long bonds.  Shorting stocks … Continue reading

Posted in Bonds, Interest Rates, Uncategorized | Tagged , , | 9 Comments

America Thirst: China’s Flows Worrisome – Art Cashin

Just before the close, Art Cashin, one of the best out there, cited the weak Treasury auctions and, ergo, worries China is pulling back on its Treasury purchases as a major factor behind the ugly stock sell-off. Click here for … Continue reading

Posted in Bonds, Budget Deficit, Capital Flows, Uncategorized | Tagged , , , | Leave a comment

Free Ride Is Over: China & Japan Bailing On Treasuries

We had a request to look at the annual change in foreign holdings of U.S. Treasury securities as an addendum to our post from last night. It’s clear the two largest foreign creditors to the United States government are pulling … Continue reading

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Week In Review – October 5

Summary Ugly week for Global Bonds.  Run to our Sept 23rd post, The Gathering Storm in the Treasury Market 2.0,  as to why we thought yields were about to spike.  Boy, did they Stocks followed bonds lower causing pain the … Continue reading

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