Rates and Bonds
The Fed's Message, Market Reaction, Snowflake's Blizzard, JFrog, TikTok/Oracle
At least part of the market's negative reaction to the Fed on Wednesday may be tied to two factors.
Treasury Holders Are Complacent: They Shouldn't Be
Investors have been content holding duration and interest-rate risk despite the red flags. Complacency rarely ends well.
We Had a Selloff. But Does the Fed Care?
Here's why your stocks matter little to the Fed, and how the selloff seeped into the credit markets.
Is the Fed Trying to Catch a Tiger by the Tail?
Here's how Fed policy should affect bonds -- and your portfolio.
A Marriage in Jackson Hole: Fed Gets Wedded to Policy
If you're buying growth stocks now -- and discounting future rate expectations -- then listen up as a course gets charted for years to come in this historic speech.
It's a Bird... It's a Plane... It's ... Yields?
It can seem that more people believe in extraterrestrial life than in higher yields, but something strange appears to be going on. Let's dig in.
Mammas Don't Let Your Babies Grow Up to Be Treasury Traders
Unlike equities, or at least the Nasdaq 100, there is little conversation about credit getting back to all-time tight levels -- or even where they were in January and February.
Here's Why You Should Toss Ackman's Bond Reveal in the Junk Bin
The Pershing Square founder's talk on CNBC of shorting high-yield bonds should be taken with a grain of salt.
Is the Fed Going Out of (Yield Curve) Control?
The Federal Reserve posted its June meeting minutes and a report on individual corporate bonds bought so far. Here's my take on both.
What Do You Call a Bear in the Middle of the Road?
That's me, right now, and here's how I'm positioning myself amid a host of uncertainties.
Here's How to Navigate the Great Debt Binge of 2020
The risks are likely different from what you've been told. Here's what you should be watching instead and how it could impact your investment decisions.
All Eyes Are on Fed's Corporate Bond Buying Scheme
But what can we expect from this program, what kinds of bonds should benefit, and is the Fed setting us up for disappointment?
Wondering About Raised Rates? Don't Even 'Think' About Asking
At least don't think about asking Fed Chief Jerome Powell. The Fed concluded its June meeting, and here are my takeaways.
The Fed Likes It Hot
The Fed believes that holding interest rates low will help get the economy burning but they could start rising, too -- so here's my take on the current situation and trades that make sense now.
Would a Common EU Bond Give U.S. a Run for Its Money?
The European Union has unveiled a historic proposal to fund fiscal stimulus through a common bond issuance, and it could mean real competition for the U.S. Treasuries.
The Fed Isn't Going Negative, and Isn't Trying to Bail Out Losers, Either
Those chasing returns in credit need to be aware of what the Fed is and isn't trying to achieve, so let's dig in.
The Market Will Have Its Moment of Reckoning
As we look at why the S&P 500 is stuck in its narrow range, we see every retail investor and trader chase the same basket of names higher, edging closer to a technical point where the market could lose its support.
Making Sense of These 3 Big Headlines of the Week
Here's my take on the Fed's corporate bond ETF buying, Germany's ruling on quantitative easing and the Treasury's decision on new bond sales.
Don't Let Sleepy Fed Meeting Fool You
This is a game in which Jerome Powell & Co. have played their turn, and now await their opponent's move; also here are the bonds to own now.
Now, the Fed Catches 'Fallen Angels,' Too
The Fed has made three big changes to its corporate bond-buying program, and here's my take what the controversial moves mean.
Team, We Are in a Heck of a Jam
But as jobless claims explode while the coronavirus takes its toll, we have heroes at the nation's hospitals and heroes delivering packages and stocking shelves, and we have possibly the greatest Fed ever.
March Minutes Offer Window into Fed's Thinking
Is there a fear of inflation? Is there a chance to go negative? What's next? Here's what we can conclude from the body's own words.
Know These Plots and Characters to Guide You as This Drama Unfolds
As the Covid-19 crisis takes its toll on our people and economy -- and the world's -- we must break things down as simply as possible to see what's happening.
Bonds: We Are in a Brave New World
Given recent actions, the way we view fixed income may be changed forever.
I'm Dusting Off My Old Playbook for Bonds Right Now
After a strong day for fixed-income markets, let's learn from 2008 how to play this volatility.
Next Up: How Do You Contain the Dollar Virus?
A U.S. dollar that is rising in value against most other currencies is creating a huge problem for a world inundated with dollar-priced debt.
We Can Fix the Liquidity Crunch, But Can't Avoid the Economy Crunch
Action in a lot of these other securities only makes sense if there is a liquidity squeeze going on.
When One Domino Falls, It Takes the Entire System Down
These are not investable markets, yet. Wait it out, the damage is beyond a small fix now.
Fed's Latest Actions Scream Why Markets Have Lost Faith in It
Dramatically slashing interest rates to zero and promising huge asset purchases are instilling fear, not confidence, in market participants.
Equities Would Do Well to Listen to What the Bond Market Is Saying
And the bond market isn't saying encouraging things just now.