Fed Takes In Fallen Angels, Will Buy Junk Bonds, High Yield ETFs
Are you concerned about “fallen angel” risk in the credit market? Put differently, are you
Are you concerned about “fallen angel” risk in the credit market? Put differently, are you
…nobody wants to assign a high probability to what would be a catastrophic event.Â
It’s “barely started”.
“… it fills us with a lot of fear [and] not just because many central banks would be relatively constrained in their ability to cut rates after their big post-GFC easing.”
Is this a sign of things to come?
“It is not unusual that losses may be happening.”
Not everyone is a winner.
Fallen angel risk, European style.
Barring a reversal of fortune, 2022 will be remembered as the year the “slow-flation” macro
The first quarter of 2021 was the busiest ever for US junk sales. Almost $150
One the many marvels of 2020 was the US corporate bond market, where borrowers were
For all the celebration (and simultaneous derision) around the Fed’s success in helping to drive
You might be inclined to think market participants are suddenly nervous about the outlook for
Earlier this week, US junk bond yields hit all-time lows amid the rampant euphoria that
Since April, one of the most astounding dynamics to observe was the dramatic abatement of
The following short bit will come as no surprise to regular readers, and as such,
The same risk aversion that sent US stocks tumbling towards their worst weekly performance since
There’s talk of “lockdowns 2.0,” which I suppose is market parlance for politicians’ latest efforts
Minutes from the September FOMC meeting find Fed officials debating the relative merits of moving
In what looks like more evidence that September’s equity market tumult is spilling over into
There’s consternation in high yield bonds. Or at least that’s the impression one gets from
As expected, this week saw a deluge of new high-grade supply, with the US investment
I’d be remiss not to point out that the political circus in the US took
“Are credit spreads currently too tight relative to the severity of the current downgrade and
I suppose it’s only fitting that the latest flows data from Lipper shows another week
Bill Ackman is “long-term bullish on America”, he told CNBC Wednesday. That much hasn’t changed.
You could argue that the Fed is getting what it wants. Or at least achieving
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