Deutsche Bank is a dominant player in the commercial - mortgage
bond market where loans on everything from strip malls to skyscrapers are packaged into securities and sold to investors.
I have resisted writing this for some time, but there are certain points in
the bond market where yield is poisonous.
In
the bond market where older bonds (as opposed to new ones just being issued) are traded.
Time and time again if the stock market suffers there is consitentantly a «flight to quality» in
the bond market where bond prices rice and inversaly mortgage rates go down.
It takes place in the rarefied world of
the bond market where institutional traders like banks and pension plans operate.
This is particularly true in the corporate
bond market where credit spreads (the gap between treasury and corporate borrowing costs) have remained close to all - time lows.
Not exact matches
In addition to the aforementioned concerns, Golub noted fears about whether economic growth won't meet lofty expectations and signals being sent from the
bond market,
where a narrower gap between government
bond yields is kindling fears that a recession is looming.
It's the total earnings - per - share the
market generates as a percent of the
market's total value — a measure similar to the yield on
bonds,
where the yield rises when
bond prices fall, and vice versa.
«The big challenge is that the level of computer power that one of these things needs is pretty high,» Wilcove says, adding that as the
market evolves, he can imagine a communications app for far - flung business meetings «
where you're all virtually sitting around the table in different locations with one of these headsets on, James
Bond - style.»
Based on
where bonds are trading today, the
market is saying about 5 % of those corporate loans will go bust, or roughly $ 35 billion worth at the six biggest banks.
The «Futures Now» team discusses moves in the
bond market and
where interest rates may be heading with Jackie DeAngelis.
And «in most geographies,» banks hold these domestic government
bonds mainly in» «available - for - sale» portfolio buckets,
where they have to be marked - to -
market.»
4) Beware of ETF's
where liquidity of ETF is out of synch with Underlying
market liquidity... emerging
market, junk
bonds, pretty much every ETF except us stocks, gov. Bonds and GLD has fake liqu
bonds, pretty much every ETF except us stocks, gov.
Bonds and GLD has fake liqu
Bonds and GLD has fake liquidity
The fact that the
bond market retreated during the first week of the year on «old» news and in the second week on very little new economic news, though Wednesday saw softer JOLTS (
where job openings slid to a six - month low) and Import Price data barely rising at all, is revealing.
I think the
bond market is
where people giving financial advice over the next one or two decades are going to have to prove their worth, not the stock
market.
The
bond portions of our portfolios are invested in Vanguard Total Bond Market II Index Fund and, where appropriate, in Vanguard Inflation - Protected Securities Fund (the proportions invested in each fund vary by portfol
bond portions of our portfolios are invested in Vanguard Total
Bond Market II Index Fund and, where appropriate, in Vanguard Inflation - Protected Securities Fund (the proportions invested in each fund vary by portfol
Bond Market II Index Fund and,
where appropriate, in Vanguard Inflation - Protected Securities Fund (the proportions invested in each fund vary by portfolio).
«Between 2 % and 5 % for stocks,
bonds and commodities are expected long term returns for global financial
markets that have been pushed to the zero bound, a world
where substantial real price appreciation is getting close to mathematically improbable.
Investors need a reason to enter the green
bond market and that is
where governments enter the picture.
A huge number of sellers would be pouring into a
market with a dearth of buyers, setting up a scenario
where bond prices cascade and yields explode.
Bond fund withdrawals might have had a greater effect on markets where there is less trading, such as municipal securities — but even there, redemptions from bond funds would have accounted for less than 10 percent of the primary dealers» trad
Bond fund withdrawals might have had a greater effect on
markets where there is less trading, such as municipal securities — but even there, redemptions from
bond funds would have accounted for less than 10 percent of the primary dealers» trad
bond funds would have accounted for less than 10 percent of the primary dealers» trading.
The emergence of green
bonds serves as a prime example of the evolving
market landscape and points to a future
where attractive financial returns and positive societal and environmental outcomes can happen simultaneously.
I've seen a big seller who needed to sell a big position in a junk
bond issue force the
market down 40 points in order find a level
where buyers would step up.
However, the reaction of the
bond market is another story altogether, with yields on 10 - year Treasuries recently returning to about
where they were when this year began.
«This is significant because we [were] at all - time highs, and you usually don't see a bull
market where everything is up, including
bonds, stocks and gold,» says Chartered Financial Consultant Chris McMahon, founder of McMahon Financial Advisors in Pittsburgh.
We discussed the potential impact on the
bond market, and
where Irving is seeing investment opportunities.
The relative lack of liquidity in the
bond market and the fact that it is oriented for institutional investors rather than retail investors means that you really want to know
where a
bond has been trading before agreeing to buy or sell at a given price (be careful not to get ripped off).
Investors will also look at credit spreads for clues as to
where the
bond and other
markets may be headed.
Note: HYG the $ 20bln high yield ETF yields 5.13 % in comparison, hence you might need to buy an out of favor sector like bricks and mortar retail, otherwise non-rated is likely
where you will find > 7 % in the US domestic
bond market.
Other examples are the broad US stock
market, the stocks of companies involved in social media and / or e-commerce, the
market for junk
bonds, and a group of junior mining stocks
where just the hint of a possible discovery has led to spectacular price gains and
market capitalisations that bear no resemblance to current reality.
What is the verdict of the
bond market, so far, about
where we are now and
where the
markets may go?
Today's «Trends and Tail Risks» takes a look at the
bond market,
where investor confusion in this post-crisis world is perhaps the greatest.
For years, friendly debt
markets have allowed issuers to push the «maturity wall» —
where tons of
bonds come due simultaneously across the high - yield
market.
Again in mid-2007 the Dow / T -
Bond ratio peaked, which was open door rampage of a devastating bear
market in stocks
where the Dow lost about -54 %.
Playing as confidently as ever to the strength of its balance sheet, Deutsche Bank retained its number - one position in Western Europe's
bond market,
where it raised $ 126.3 billion in 534
bond deals for a 7.2 %
market share last year.
There are exceptions, such as a charity auction,
where you can donate land or other appreciated property (such as stocks or
bonds) and deduct these contributions at full fair
market value?
Where I explain the odd bits of being portfolio manager, while succeeding with structured
bonds amid difficult
markets.
And so, there is this big dichotomy I think between what the Fed governors are forecasting in terms of their so - called «dot plot,»
where they think interest rates are going to be and
where the
market is again, saying well, actually we know better,
bond yields are always going to stay low.
She is a regular contributor of fixed income analysis to Saxo bank's News & Research hub
where she outlined her view of
bond market trends across the developed and emerging
market spaces, as well as in investment grade and high - yield
bonds.
Last year already set a record for corporate borrowing in Europe's
bond markets,
where rates are significantly lower than in the US.
In terms, I think of inflation and
bond markets, it took six, seven, eight, maybe 10 years of high inflation in the 1970s before you had Paul Volcker brought in to say «enough is enough,» and then again whether it's led by American monetary policy but similar moves in Europe, obviously in the UK, a significant tightening of monetary policy because people got fed up with inflation and I don't think that we are kind of yet at the point
where real wages have been suppressed so much by that irritation that inflation is always running ahead, life is becoming more expensive, so we need the central bank radically to change their policy.
Some
bonds trade once a week, month, or year... indicative levels are given, maybe, but you navigate in a fog, and so you begin sounding out the likely
market to get some concept of
where a trade might be done.
Rather, the increase in spreads appears to reflect both tightness in the Commonwealth Government
bond market (
where supply remains limited and demand by foreign investors appears to have increased) and upward pressure on swap rates (one benchmark against which corporate
bonds are priced) as companies have sought to lock in fixed - rate borrowings due to expected increases in interest rates.
This is in contrast to US and European
markets,
where corporate
bond spreads to swaps have risen over the period.
I think that means European
bonds are potentially positioned to perform well — especially relative to other
bond markets in the world — because the ECB is very much on a heavy easing cycle, compared with other countries
where there is talk that rates eventually will rise (namely the United States).
It then followed it up by a series of quantitative easing measures,
where it purchased
bonds in the
market to improve the liquidity conditions.
Depending on
where the stock
market and
bond market are at the time, I'd like to deploy $ 300,000 of the proceeds in low risk investments that have a high chance of producing a 4 % gross yield.
Even in a world
where short - term interest rates will continue to rise as the Federal Reserve raises policy interest rates (most likely 2 — 3 times next year) and
where long - term rates should rise slowly as the Fed lets its balance sheet shrink, tax - free yields should either stay the same or move down as the municipal
bond world confronts a
market with much less issuance.
The bishops seem to see American society and its institutions as a
market rather than a community united by a common culture — a place
where strangers work and pursue their economic interests, not a society
where people share common
bonds and shared responsibilities.
I realise this has been written for the US
market but even there women are opting to stay at home with a midwife,
where the hormones can be least disturbed, plus the evidence is overwhelming that this is not only safe but optimal for
bonding.
With fully two - thirds of its money invested in domestic and foreign stocks, private equity and «absolute return strategies» (i.e., hedge funds), the New York State pension fund has a risky asset allocation profile typical of its counterparts across the country — because chasing risk is its only hope of earning 7 percent a year in a
market where the most secure long - term
bonds yield barely 2 percent.