“Or have we reached that ‘obscene point’ where it makes sense to take out some blue tickets?”
Category: credit
Junk ETFs Stress Tested, Reflation Bled Dry And Other Thoughts As Things Go From Bad To Worse
A visual (and narrative) odyssey.
Here’s The Latest On The Fallen Angel Story…
It’s “barely started”.
It Was All A Dream…
Oh, the irony…
As Chanos Warns On ‘Fragility’, Goldman Tells You Where The Tail Risks Are
Putting some nuance on Jim’s “fragility” warning and “chasing tail” with Goldman.
Leveraged Loan Bubble Continues To Burst As Funds See Largest Exodus On Record
If you were wondering whether the leveraged loan bubble had stopped bursting, the answer is…
Meanwhile, In Leveraged Loan Bubble Land…
This is fine…
The $1 Trillion Leveraged Loan Bubble Looks Like It’s Popping – Here’s Some Deadpan Color
It had to happen eventually.
‘When The Largest ETF Buyer Exits, Nobody Wants To Catch A Falling Knife’
This is such a familiar refrain that it wouldn’t even bear mentioning at this point were it not for the fact that it’s now reversing – with entirely predictable consequences.Â
Goldman: ‘The Tide Has Shifted’ In Credit Markets And Here’s Why…
“Three factors have driven this shift.”
A Junk Odyssey.
Looking across the high yield market amid the post-holiday malaise.
Jeff Gundlach Is ‘Amazed’ At How ‘Copacetic’ Markets Are About Coming Credit Apocalypse
“Stay out of investment grade bonds.”
The Press Knows What Will Cause The Next Crisis, And It’s Corporate Debt
“For financial journalists, pinpointing the source of the next meltdown is no easy task. The ones who did so pre-2008Â were few.”
In Credit, Searching For The Last Straw
Yes, it’s going to crack, but where first?
The Fed Is Increasing The Deductible Of Your Insurance
On the bright side, there’s a logic to the Fed’s strategy.
Goldman Doesn’t Think It’s Time To Panic. Here’s Why…
Who’s in the mood for some “don’t panic, the fundamentals are sound” analysis on Saturday?
European High Yield Faces Two-Headed Hydra From Italy, EM FX
There are so many self-referential dynamics in play here that it will make your head spin.
Is The Reflation Trade Back? Not According To One Bank
“The ‘reflation trade’ indicator continues to lose momentum; we do not foresee a sharp reversal towards the ‘reflation trade’ for the remainder of the year.”
CDS Is Grossly Disconnected From EM, So Now Is A Great Time For A CDS ETF!
All you can do is shake your head.
In Investment Grade Credit, A ‘This Has Never Happened Before’ Moment Emerges
This should be bullish – I guess.
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.
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?
The Good, The Bad, The Ugly (Vis-Ã -Vis Corporate Balance Sheets, That Is)
It’s not all bad news. But it’s not all good news either.
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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