More tales from “this topsy-turvy world”.
Category: credit
Weekend Color Commentary From The Macro Tourist
Some feedback on the great BBB apocalypse debate and more.
‘2018’s Experiment Failed Monumentally’: Detox Is Hard
You can kill the patient if you’re not careful.Â
Macro Tourist, Bill Dudley Think Carl Icahn May (Eventually) Be Right On Corporate Debt ‘Time Bomb’
“Although I have no idea of the timing, as this cycle continues, I am getting more sympathetic to the idea credit is a time bomb.”
As Recession Worries Recede, Investors Jump At Chance To Fret About 2020 Election
79% are some shade of worried.
Chasing Your Own Tail And ‘Zombies At Dawn’
Price discovery lives – even as zombies make a comeback.
The ‘Music Of The Credit Cycle’ Will Keep Playing – Until It Stops
The point of no return…
‘Stay Liquid’: Negative Microstructure Seasonality Could Be Particularly Acute In 2019
“Trading volumes and liquidity measures should exhibit strong seasonality”.
These Investors Are Highly Concerned About A US Recession – Even After Recent Good News
It was probably worse last month.
On One Read, Stocks And Credit May Be Perilously Disconnected From Economic Reality
The glass-half-empty take.
Apple Has $200 Billion In Cash – But It’s Borrowing $7 Billion Anyway
A sign of the times…
In Twilight Zone Markets, Bonds Are Stocks And Liabilities Are Assets
“This has been no ordinary episode of reaching for yield by investors”, BofA’s Barnaby Martin
The Bubble Isn’t Government Bonds, It’s Corporate Debt And Stocks, Albert Edwards Insists
“I really start to scratch my head”.
Now Is Not The Time To Lean Into The Illiquidity Premium In Credit, One Bank Warns
There’s always ETFs, though, right?
In Junk Bonds: Exodus
So, is there any good news here?
Don’t Look Now, But Junk Bond Spreads Just Blew Out The Most In 12 Years
Well, that’s not great news.
‘Living In A Very Strange World’
“Negative credit could soon be the norm”.
David Vs. Goliath: Einhorn Takes On The US Corporate Debt Bubble
“Good luck, we’re all counting on you”.
In Markets, Summer Melt-Up To Meltdown?
You can hardly blame anyone who’s nervous
For These Investors, It’s ‘Still All About China’
But a little bit about recession, deflation and currency wars, too.
Rewrite The Textbooks.
If this goes on for another five years…
‘Unsustainable Inconsistencies Could Lead To Sharp Adjustments’, One Bank Euphemistically Warns
“…this does not necessarily lead to a healthy and sustainable economy”.
After Nosebleed Rally, Some Say It Can Only Go Wrong From Here
As good as it gets?
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