BB- and B-rated bonds have performed well lately, but CCC-rated bonds are a different story -- this divergence hasn't happened in nearly two decades and it gives clues about what to expect for 2020.
Here are my views on topics including interest rate risks, events in Europe that could push European yields higher and the ongoing trade talks between Washington and Beijing.
Don't bet on the Fed to make any further cuts after the third, and start preparing for a hawkish turn.
Here's my take on the Federal Reserve's expanded balance sheet, the Labor Department's jobs survey, and Fed's September meeting minutes.
Thoughts on the ISM, trade, Friday's key job report and how to play it all.
International investors have been heavy sellers in Tokyo for quite some time. They tend to sell at exactly the wrong time. It seems many have made that mistake again.
it seems that consensus is to interpret anything that can be viewed as bad, as actually bad, and anything that could be good, as an aberration that will soon become bad.
Over the past decade, not fighting the Fed has been the single best piece of advice any market strategist could offer.
There doesn't seem to be any particularly fundamental reason for bonds to weaken to such a degree.
A Minsky moment is when excessive speculation leads to excessive demand for credit and excessive leverage.