Bonds Analysis & Opinion

The municipal bond market is completing the halfway point of 2012 with a number of themes similar to those that were playing out last fall.Very cheap ratios in the intermediate and long end of the...

I received the following from a reader:   My primary motivation for writing to you is this post by Jeff Miller.   In my mind, you are the foremost expert blogger when it comes to bonds so I...

Investors seem to have a bottomless appetite for investment grade (IG) corporate paper. Issuers are coming to market to borrow money at ridiculously low rates. Even for the longer maturities the...

Fishermen plying the pristine waters of Maine tend to focus on bass and salmon, while they consider pickerel to be “trash fish.”  Pickerel have a mouthful of sharp teeth, linger in...

Last year I wrote a piece in which I noted that the EU would implode before the end of 2012. The reason for this was clear: EU banks needed to roll over hundreds of billions of Euro debt (possibly...

Earlier this week the Wall Street Journal posted the results of its June Survey of economists (xls file). In the past my main interest in these forecasts has been the GDP estimates. But today my...

Note from dshort: The markets are still digesting the political developments in Greece and France. Meanwhile, here is an updated snapshot of Friday's closing yields. They are off the historic lows set...

Earlier this morning, Spanish 10-year bond yields hit euro-area highs for the second day in a row, barely staying below the dreaded 7% level, which is significant as it suggests the need for a...

Note from dshort: Here is an updated snapshot of yesterday's closing yields. They are off the historic lows set last Friday in the 5-, 7-, 10-, 20- and 30-year Treasuries against a backdrop of ongoing...

The Equity Risk Premium has once again drifted up to all-time high levels in recent weeks. The S&P 500 has an earnings yield of around 7.9% (assuming S&P earnings of $105 versus current price...

The globe is awash in debt, deficits are exploding and the Euro is about to collapse…right? Well then why in the heck are six countries out of the G-7 seeing their 10-year sovereign debt trade...

Bunds:Bunds saw further losses today after failing to hold over 143.14/25 we saw down to support at 142.52. This held and we bounce slightly at the close but this was held down by 143.14...