Bonds Analysis & Opinion

After rebounding sharply from pandemic lows, the 10-year Treasury yield is nearly back to levels that prevailed before COVID-19 began to roil the global economy in early 2020.But the 10-year rate has...

Taper Is Coming: Got Bonds? The solid economic recovery and easing of COVID restrictions lead us to believe a tapering of QE may not be far off. Further supporting our opinion, inflation has fully...

Earlier this month, I reviewed a model that estimates a theoretical level for the world’s most-important interest rate: the 10-year Treasury yield. In today’s follow-up, let’s...

U.S. Treasuries are relatively calm these days, but eurozone government bonds remain volatile. After the yield on the benchmark 10-year French bond climbed into positive territory, investors are...

So much liquidity has been pumped into the system that chunks of it are being offered back to the Federal Reserve, at zero percent. Perverse, as players are effectively shuffling excess reserves back...

Given yesterday’s headlines with Bitcoin plunging, did you take a peek at interest rates? Could a stronger dollar lie ahead with higher rates?While everybody’s eyes are peeled on...

Here we explain why some asset managers continue to favour US Treasuries, while liability managers do the opposite by funding in EUR (and JPY a.o.). Not just based on obvious rate differentials, but...

The central bank of the United States, the Federal Reserve, creates digital dollar credits to buy bonds. If you buy bonds to depress interest rates and to inject money into the financial system, you...

The world is awash in efforts to model a theoretical value for the stock market – the CAPE ratio, for example. But while the equities hog much of the attention on this front, similar analytics...

German media started to speculate last week that the negative-interest phase in government bonds might be reaching an end as optimism about vaccines and an economic rebound have prompted investors to...

There’s no shortage of indicators to monitor for deciding if the expected runup in inflation is a temporary affair or regime shift that signals a longer-term rise in pricing pressure. I recently...

"Hey neighbour, here's $100. Give me back $91 in 10 years and you're good! Just pay me the inflation rate..." That's the negative real rates market of today, not in the inverted eurozone rates space,...

U.S. Treasuries appear to be treading water. That's keeping yields on the 10-year benchmark at about 1.60% despite the usual fluctuations.Investors have priced in robust economic news, but a bullish...

Stay short and favor junk bonds. That, at least, is what’s worked rather well so far this year, based on set of ETFs representing the major slices of US fixed-income markets. But as reflation...