Credit Flow Bonanza Continues, While Apple Taps Market For $5.5 Billion It Doesn’t Need
Another week, another big haul for credit funds. At a time when the market’s appetite for corporate bonds is nothingContinue Reading
Category: credit
Junk. Lots Of It.
Twice. That’s how many times during the first two days of this week I addressed what certainly seems like frothContinue Reading
Are Corporate Bonds A Bubble (Again)?
“Are credit spreads currently too tight relative to the severity of the current downgrade and default cycle?”, JPMorgan wonders, inContinue Reading
From Volkswagen To Apple To Dentists And Roofers: What The Fed’s Been Up To
Those interested to know what the Fed bought recently as part of its efforts to support the corporate bond marketContinue Reading
‘Working Fine Right Now’
(Updates with comments from Pelosi, Schumer, Meadows, Mnuchin after latest negotiations) In an attempt to prove to voters he’s notContinue Reading
Casino
There’s a generalized sense of angst hanging in the thick summer air, but nobody knows quite what to do aboutContinue Reading
The Big Boot
It was nobody’s idea of a “good” day. The worst economic downturn since the Great Depression was confirmed. Jobless claimsContinue Reading
‘Capitalism Was Lost Long Before COVID-19’
Earlier this week, in the course of summarizing the main points from the latest missive by SocGen’s incorrigible (yet exceedinglyContinue Reading
Damn The Torpedoes: Investors Plow Another $11.6 Billion Into Credit Funds
I suppose it’s only fitting that the latest flows data from Lipper shows another week of massive inflows into creditContinue Reading
Albert Edwards Predicts Zombie Apocalypse
I take a relatively sanguine view of the Fed’s foray into corporate bond buying. That’s not because I don’t appreciateContinue Reading
Ackman Shorts Junk, Is ‘Cautious’ Near-Term. Still ‘Bullish On America’
Bill Ackman is “long-term bullish on America”, he told CNBC Wednesday. That much hasn’t changed. He feels the same wayContinue Reading
Getting Even And Getting Out?
The fact that US equities (the S&P in this case) turned positive for the year a mere four months afterContinue Reading
Bipolar, Bimodal.
“There’s been a lot of healing, and that’s what the market is reflecting, but there’s still a great component ofContinue Reading
Who Cares Where You Are In The Capital Structure If The Fed Doesn’t Allow Bankruptcies?
Like many irritable observers, I lost my sense of humor with the Hertz saga in mid-June, when the company suggestedContinue Reading
Hooray For Jay: Tsunami Of Inflows Into High-Grade Bonds Hits 13 Weeks
To reiterate what is now a weekly refrain…