#High-yield debt

Authored by James Rickards via Bonner & Partners, To paraphrase one of the great gems of Wall Street wisdom, “Nothing infuriates a man more than the sight of other people making money.” That’s a pretty good description of what happens during the late stage of a stock market bubble. The bubble

Earlier this week, as Trump's tax reform was finally being voted through Congress, we showed that in a surprising market reaction, total asset returns - those combination of S&P and 30Y Treasurys - saw their biggest two-day drop since last December, a shock which led to one of the biggest

Authored by Tuomas Malinen, op-ed via Huffington Post, Crises always take longer to arrive than you think, and then happen much quicker than they ought to. - Rudiger Dornbusch An eerie calm has taken over the world markets. Volatility is crashing, and economic and political shocks come

Two weeks ago, as part of our continuing coverage of the Steinhoff fiasco in which it emerged that the ECB was the mystery and (not so) proud buyer of just issued Steinhoff (now junk) bonds (maturing in 2025 but set for bankruptcy much sooner) and which lost more than half of their value overnight

Authored by Lakshman Achuthan and Anirvan Banerji via Bloomberg.com, Analysts shouldn’t dismiss the yield curve’s message just because inflation expectations have been declining in recent years.   When it comes to the economic outlook, the bond market is smarter than the stock market. That Wall