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Category: high yield

Forget Stocks, IG Credit’s Half-Trillion, Back-To-Back Bonanza Is The Real Story

April 30, 2020April 30, 2020

Go ahead, everybody – indulge yourself in Fed jokes.

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2 Comments on Forget Stocks, IG Credit’s Half-Trillion, Back-To-Back Bonanza Is The Real Story

Carnivals And Pixie Dust.

April 2, 2020

Go figure.

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4 Comments on Carnivals And Pixie Dust.

Behold! A Six Standard Deviation Blowout In High Yield Credit Fear Gauge

March 9, 2020

This is what “stress” looks like.

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4 Comments on Behold! A Six Standard Deviation Blowout In High Yield Credit Fear Gauge

Zombieland.

January 27, 2020January 28, 2020

“Very few people on the streets, everyone wearing face masks”.

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3 Comments on Zombieland.

Leveraged Loan ‘Bubble’ Warnings Are A Thing Again And Goldman Is ‘Concerned’

October 30, 2019

“Fragile”.

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Now Is Not The Time To Lean Into The Illiquidity Premium In Credit, One Bank Warns

August 16, 2019

There’s always ETFs, though, right?

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3 Comments on Now Is Not The Time To Lean Into The Illiquidity Premium In Credit, One Bank Warns

In Junk Bonds: Exodus

August 9, 2019November 18, 2021

So, is there any good news here?

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Don’t Look Now, But Junk Bond Spreads Just Blew Out The Most In 12 Years

August 6, 2019

Well, that’s not great news.

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2 Comments on Don’t Look Now, But Junk Bond Spreads Just Blew Out The Most In 12 Years

A Nightmare On Wall Street.

August 2, 2019August 3, 2019

The algos do not appreciate that kind of thing, Mr. President.

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oil2 Comments on A Nightmare On Wall Street.

David Vs. Goliath: Einhorn Takes On The US Corporate Debt Bubble

July 25, 2019November 14, 2021

“Good luck, we’re all counting on you”.

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4 Comments on David Vs. Goliath: Einhorn Takes On The US Corporate Debt Bubble

More Adventures In The Exciting World Of Negative-Yielding Debt And The Ultimate Oxymoron

July 6, 2019July 7, 2019

NIRP-ianâ„¢ insanity.

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2 Comments on More Adventures In The Exciting World Of Negative-Yielding Debt And The Ultimate Oxymoron

‘The Last Thing We Need’

May 31, 2019June 1, 2019

All in all, it was a fittingly sour end to the second-worst May for US equities since the 1960s.

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And Then, Things Really Started To Go Wrong…

May 29, 2019May 29, 2019

Things have taken a wholly unfortunate turn into month-end.

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6 Comments on And Then, Things Really Started To Go Wrong…

The Bad News Is, ‘The Next Recession Could See The Third-Worst Spread Peak In History’

April 3, 2019April 14, 2019

The good news is, it won’t be because of defaults.

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7 Comments on The Bad News Is, ‘The Next Recession Could See The Third-Worst Spread Peak In History’

For US Credit Investors, The ‘Sum Of All Concerns’ Just Hit A Five-Year Low – Just Don’t Tell Anyone In Europe

March 11, 2019

“…most concerns have declined notably.”

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As Greed Returns, Remember: ‘Strong Rallies Should Lead To Less, Not More Optimism’

February 5, 2019October 26, 2021

“…sometimes you are compensated for this skewed perception and other times you are not.”

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‘We Feel The Need To Shout About This Risk Even Louder’: Angels In Europe

January 26, 2019

Fallen angel risk, European style.

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‘Fallen Angel Risk’ Still Front And Center Despite Bounce As $186 Billion Of Bonds ‘Migrate’ To BBB

January 25, 2019

…nobody wants to assign a high probability to what would be a catastrophic event. 

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1 Comment on ‘Fallen Angel Risk’ Still Front And Center Despite Bounce As $186 Billion Of Bonds ‘Migrate’ To BBB

IG Credit Potpourri: BBB Apocalypse Update And A Liquidity Check

January 22, 2019

A lot of ad hoc musings here cobbled together and submitted for your approval.

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‘V’ Is For ‘V-Shaped’

January 9, 2019January 9, 2019

Waiting on “a message”.

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6 Comments on ‘V’ Is For ‘V-Shaped’

Jeff Gundlach Talks ‘Horrific Situations’, ‘Relativistic’ Opportunities, Bitcoin In Annual Webcast

January 8, 2019October 24, 2021

Here we go.

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4 Comments on Jeff Gundlach Talks ‘Horrific Situations’, ‘Relativistic’ Opportunities, Bitcoin In Annual Webcast

Who’s Still Hungry (For Risk)?

January 7, 2019

All in all, not a bad day.

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What Are Stocks And Other Assets Saying About The Odds Of A US Recession?

January 7, 2019

Remember: anything is better than Larry Kudlow’s “models”.

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Earthquake Insurance And The New Era Of Maturity And Liquidity Transformation

January 2, 2019January 2, 2019

Old habits die hard.

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‘What Gives Us A Pause Here’ Are The ‘Facts’: Why The Cycle May Be Turning

January 2, 2019October 24, 2021

Who needs “facts”?

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4 Comments on ‘What Gives Us A Pause Here’ Are The ‘Facts’: Why The Cycle May Be Turning

Requiem For 2018: A Visual Retrospective

January 1, 2019October 24, 2021

At least we know what 2019’s consensus longs are.

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oil6 Comments on Requiem For 2018: A Visual Retrospective

Fear And The Market’s Perverse Fascination With Calamity

December 30, 2018April 11, 2022

Fear is self-reinforcing.

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5 Comments on Fear And The Market’s Perverse Fascination With Calamity

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Week’s News

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Lies, Damned Lies And The Statistics Bureau

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Exiles On Main Street, Redux

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