Bonds Analysis & Opinion

The fallout in liquidity and funding markets has been mostly attributed to the junk-bond bubble. Prices have fallen, and many precipitously, while yields have risen. But those are not the only...

On December 16, 2008, in what Ben Bernanke averred took a tremendous amount of “moral courage”, the Federal Reserve officially arrived at its Zero Interest Rate Policy. ZIRP was a huge win...

Bund holding above 159.55/58 is positive for today and re-targets 159.76/79. We could continue higher to 159.91/94 before a retest of last week's high at 160.19. A break and close above here tonight...

Weekly Large Trader COT Report: 10 Year US Treasury Note CFTC Futures data shows speculators trimmed their overall bullish positions 10 Year Treasury Note Non-Commercial Positions: Large 10-year...

Junk bonds have been in the news over the past few months, mostly in a bad way, as they have been falling in price since April of 2014. The chart above looks at the Junk Bond (N:HYG)/S&P 500...

Treasuries advanced for a sixth day, the longest winning streak in 13 months, as turmoil in Chinese markets drove demand for the relative safety of government debt.From 2-Year notes to 30-Year bonds,...

Since maximum fear in the financial markets tends to create demand for safer-haven bonds, the chart of long-term Treasuries (N:TLT) should be helpful from a risk-assessment perspective. If stocks...

The most important outbreak or story of 2015 had to have been the junk bond reversal. It combined all the major elements of what investors and economic agents are both fearing and, at one point in the...

John Rubino and Gordon T Long discuss the alarming developments in the Junk (High Yield) Bond market. John was warning on his last appearance on Macro Analytics about the things he was seeing, while...

ZN is Retesting its Red Megaphone VWAP & Navy Blue Inverse H&S Neckline The US 10 Year T-Note is retesting its inverse H&S neckline (navy blue on chart). It put in the orange megaphone to...

Picking up on the money market(s) discussion from Monday morning, bill rates once again were suggestively shallow. The 4-week T-bill was just 14 bps in “yield”, well below the Fed’s...

No doubt junk bonds have tanked over the past two years, diverging against the S&P 500. Historically, when Junk is weak the broad market tends to struggle to move much to the upside. Junk-bond ETF...

I am becoming increasingly concerned over the flattening yield curve. This curve enables us to get a first hand view of sentiment towards economic growth among bond investors and other large players...

In my post this morning on Yield Curve and Spreads: Fed's Real Policy Error in Pictures; What's Next? there were two important points I intended to make but didn't. First here's a repeat of two...