The first quarter of 2021 was the busiest ever for US junk sales. Almost $150
Category: credit
US Junk Bond Market Becomes Oxymoron
It’s hard to know what a “milestone” is these days, mostly because we seem to
Junk Eyes January Sales Record As Risk-Taking En Vogue
The US corporate bond market remains robust coming off a banner 2020. Last year, both
Here’s When Higher Yields Will ‘Become A Problem,’ According To One Bank
When will rising US bond yields become a problem for equities and risk assets more
Many Marvels: The Year In Corporate Credit
One the many marvels of 2020 was the US corporate bond market, where borrowers were
‘Return-Free Risk’
In a world where some $18 trillion in debt “boasts” a negative yield, bonds no
‘Morphing Into A Structural Shift’
For all the celebration (and simultaneous derision) around the Fed’s success in helping to drive
‘Frankenbull’ And Corporate America’s Multi-Trillion Dollar Bonanza
Forget the “everything rally.” That’s not nearly colorful enough as a description of 2020’s various
What Risk? None In Junk, Apparently
Well, junk bond yields are at new record lows, which would be surprising if all
You Can Add Record-Low Investment Grade Corporate Bond Yields To November’s Milestones
November scarcely needed another market milestone, having offered up a veritable cornucopia already, but I’ll
The $17 Trillion Reason Not To Panic About Corporate Bonds
You might be inclined to think market participants are suddenly nervous about the outlook for
Investors Just Rushed Back Into Junk
Earlier this week, US junk bond yields hit all-time lows amid the rampant euphoria that
Meanwhile, More Milestones In Junk
Since April, one of the most astounding dynamics to observe was the dramatic abatement of
Markets Showed Blue Sweep Bias Into Vote Count As Trump Predicted ‘Victory’
Markets generally retained what felt like a “blue sweep” bias across the Election Day cash
Meanwhile, In Junk Exodus News…
The following short bit will come as no surprise to regular readers, and as such,
Stocks’ Worst Week Since March Spills Over Into Junk
The same risk aversion that sent US stocks tumbling towards their worst weekly performance since
Back To The Twilight Zone: Companies Get Paid To Borrow During Pandemic
Nothing gets the crowd going quite like negative rates. “Perversion” is a term that invariably
This Is No Lehman. Meet Me At Dave & Buster’s!
There’s talk of “lockdowns 2.0,” which I suppose is market parlance for politicians’ latest efforts
The Bankers Are Fine
US equities managed to recover from fairly steep early losses to close mixed Thursday, as
$2 Trillion In A Pandemic? Corporate America’s 2020 Debt Binge Has No Precedent
No, really. “Investors really can’t get enough high-grade corporate bonds,” Bloomberg’s James Crombie wrote late
When It Comes To Huge Corporate Leverage, There Is No Easy Way Out
“Records were shattered on debt, GDP, and leverage”, SocGen’s Stephen Gallagher writes, recapping what will
As Junk Bond Sales Smash All-Time Record, Outflows Suddenly Accelerate
In what looks like more evidence that September’s equity market tumult is spilling over into
Cracks Emerge In Junk As Stock Slump Spills Over
There’s consternation in high yield bonds. Or at least that’s the impression one gets from
Bonanzas, Borrowing Binges, And Cash Off The Sidelines
Investment grade credit funds took in another $5.17 billion in the week through Wednesday, the
Blue-Chip Supply, Debt Demand, And $105 Billion In Cash Off The Sidelines
As expected, this week saw a deluge of new high-grade supply, with the US investment
Meanwhile, In Credit: More Records
Week after week, it’s the same story: investors’ appetite for corporate credit is insatiable. Although
Cash Is Trash Again
“[You’re] going to feel pretty stupid if you’re holding cash”, Ray Dalio famously said, in
