Many Marvels: The Year In Corporate Credit
One the many marvels of 2020 was the US corporate bond market, where borrowers were
One the many marvels of 2020 was the US corporate bond market, where borrowers were
In a world where some $18 trillion in debt “boasts” a negative yield, bonds no
It’s getting pretty stretched out there in equity land, notwithstanding stocks’ “relative” value versus bonds
Come this time every year, I tend to publish a list of “Investments” that I
Forget the “everything rally.” That’s not nearly colorful enough as a description of 2020’s various
Goldman thinks the market might be too pessimistic on the outlook for dividends. Obviously, the
From April on, the pandemic forced Wall Street analysts to toss out the playbook on
November scarcely needed another market milestone, having offered up a veritable cornucopia already, but I’ll
It’s all relative. That universally applicable old adage (you can always find a use for
You might be inclined to think market participants are suddenly nervous about the outlook for
Meanwhile, from the world of “zombies” and possibly unsustainable debt burdens… The financial media (and
It took around 24 hours for market participants to start asking questions about the viability
Markets generally retained what felt like a “blue sweep” bias across the Election Day cash
The last full week of trading before America’s date with what some still fear will
Blame the virus, blame lockdowns in Europe, blame positioning, or blame your favorite election narrative.
US markets felt apprehensive Thursday. If that’s an accurate read, it’s understandable. The timeline on
There’s talk of “lockdowns 2.0,” which I suppose is market parlance for politicians’ latest efforts
“The strongest of all warriors are these two — Time and Patience” “War and
Blue-chip US corporates may end up borrowing as much as $2 trillion in 2020, an
No, really. “Investors really can’t get enough high-grade corporate bonds,” Bloomberg’s James Crombie wrote late
Assuming market participants can somehow focus on corporate fundamentals amid what is sure to be
Everything became an afterthought Friday. Even if Donald Trump’s COVID diagnosis proves to be a
“Records were shattered on debt, GDP, and leverage”, SocGen’s Stephen Gallagher writes, recapping what will
One week on from the biggest inflow into equities since March of 2018, investors fled
It’s been a wild year. How’s that for an understatement? Consider that nine months later,
“Lockdown lite” is the strategy in Europe for containing a second coronavirus wave. While stopping
“I think this will end up in the Supreme Court and I think it’s very
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