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
Many thanks to Jeff Miller at www.dashofinsight.com for picking up yesterday’s SP 500 Earnings Update post on his blog this weekend. ———————– So much of the mainstream financial media focuses on the stock market, and yet the corporate bond markets, … 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
The JNK high-yield ETF looks the best of our three charts today, already having transcended the downward sloping trend line off the 2014 peak. The HYG is sitting just above resistance at the downward sloping trendline off … Continued
Before the last January ’18, February ’18 plunge in the equity markets. the SP 500 peaked on January 26th, 2018 at 2,872 – 2,873. With Friday night’s close at 2,945, the total gain for the SP 500 (excluding dividends) is … Continued