Saturday, December 7, 2019

Suddenly Vultures Circle in the Credit Market

The Federal Reserve has everyone talking about hawks and doves this week. But another kind of bird may be swooping in: vultures. Recent headlines suggest...

Is the Fed Dovish, or Just Plain Chicken?

Is the Federal Reserve in the midst of its quickest pivot ever? It seems to be. Only two months ago, central bankers were united in their...

The End of the World as We Know It?

"It's the end of the world as we know it, and I feel fine." - R.E.M. Michael Stipe sang those lyrics 31 years ago on...

Junk Bonds Have Gotten Dumped

In another potentially bearish sign, junk bonds are getting dumped. The Barclays High Yield Bond Index ($JNK.IV) closed at its lowest price in 2-1/2 years...

Bonds Are Crumbling Before the Fed

Bonds are getting hammered with the Federal Reserve set to hike rates next week. The yield on 30-year Treasuries ($TYX.X) has risen about 19 basis...
Suddenly, People Are Worried About a Slowdown

Suddenly, People Are Worried About a Slowdown

The U.S. economy has been resilient, but recent events have raised worries about a slowdown. Let's review some of the new forces at work. The...

Bears Embrace a Dovish Fed

Jerome Powell and the Federal Reserve tried to deliver a dovish announcement. But the market viewed it as hawkish, or just plain bearish. At one...

How the Market May Be Pricing in Higher Rates

Suddenly the market seems to be taking higher interest rates seriously. Banks and financials, which stand to benefit from increased yields, are among the best...

A Strange but Positive Jobs Report

"Non-farm payrolls miss estimates," the headlines say. But a deeper look at July's Employment Situation from the Labor Department reveals a more nuanced and...

Goldilocks Silences Jerome Powell

Fairy tales keep coming true in the U.S. economy. Most people know the classic story of Goldilocks describing the porridge of the Three Bears: Not...
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