Did Credit Investors Just Give Up On The Trump Agenda?

A couple of days ago in "One Word And One Word Only: 'Duration'," we noted that when central banks pull the punch bowl, you'd better not have your hand in the duration cookie jar. Here's how BofAML explained things: US elections, the global reflation trade and rising political risk (Nov’2016 — now):Recently we have seen a very strong bid for short-dated IG bonds. Investors are trying to cut duration risk as (i) rates have moved aggressively higher and more importantly (ii) curves have steep

Get the best daily market and macroeconomic commentary anywhere for less than $7 per month.

Subscribe today

Already have an account? log in

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NEWSROOM crewneck & prints