The 2’s – 10’s Treasury note spread widened out to 57 basis points this week, the widest spread since (wait for it) June 5th’s 69 bp’s. The week of June 5th, 2020, the 2 – 10’s spread jumped 20 basis … Continued
The name of the bond market game since Covid-19 hit, if it can be summarized in one sentence, is that “credit spread assets continue to make sense”. This graph from PIMCO was in their asset allocation outlook held for … Continued
With 466 of the SP 500 having reported 3rd quarter ’19 earnings, the earnings season officially ends this coming week when Cisco (CSCO) and Walmart (WMT) report their respective October ’19 quarters. The big news this past week was the … Continued
The first rate cut in – what – 8 or 10 years just 6 weeks ago, saw the SP 500 and the high-yield credit markets sell off sharply. The selling continued through the first half of August as the SP … Continued
(This blog post was written Friday night, August 16th but inadvertently saved as a “draft” instead of being published. It’s a few days old, but not much has changed.) Thomson Reuters used to have a guy that managed the “This … Continued