In Investment Grade Credit, A ‘This Has Never Happened Before’ Moment Emerges
This should be bullish – I guess.
Category: credit
To Hell(sinki) And Back: Full Week Ahead Preview
This is the usual cocktail of geopolitical risk and Fed watching, with a dash of Brexit for bad measure.
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The ‘Non-Stop Event Risk Cabaret’: This Is The Tie That Binds 2018’s Market Shocks
“Buy the dip” is now “sell the rip”, don’t ya know?
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The Good, The Bad, The Ugly (Vis-à-Vis Corporate Balance Sheets, That Is)
It’s not all bad news. But it’s not all good news either.
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What’s Wrong With Investment Grade Credit? Some Possible Answers As Compiled By The Macro Tourist
“Whichever reason you are partial to, at least you now have a good list of excuses to pick from as to why IG is trading so badly.”
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Beware Fallen Angels: One Bank Ponders The Fate Of The European Junk Market
“… 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.”
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Trader Asks: Does IG Know Something Everything Else Doesn’t?
“Something unusual is happening.”
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Reciprocity: Full Week Ahead Preview
Trade, immigration and “covfefe” – what else is there?
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10Y bonds brazil credit dollar Dow emerging markets euro europe eurostoxx high yield investment grade lira oil
No Resolution.
Aaand that’s the week.
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Credit Disagrees With U.S. Stocks (Again): Who’s Right?
Spoiler alert…
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‘The Credit Risk Premium Is Now Negative’: How Expensive Are CCCs?
Nosebleed.
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Value Versus Growth: One Firm Reminds You That ‘This Time’ Is Never Really ‘Different’
“Yet that raises the question – did something change in the Great Financial Crisis, or is this just a pause in the strategy’s long-term outperformance?”
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‘The Snapback When It Comes Can Be Vicious’: Albert Edwards Thinks Credit ‘Isn’t Getting The Message’ (Yet)
“And another straw in the wind may be the performance of a newly issued junk bond of a company called WeWork who have invented an entirely new, nonsense valuation metric – ‘community-based EBITDA’!”
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It’s ‘Grotesque’! Of Buybacks And Leverage
“…it’s not like you have to dig deep to find a problem.”
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‘Dragon Energy’.
That’s one “very cool” holding pattern.