Much of last week's leveraged loan positive return accompanied a 3.2 % rally in equities (S&P 500) and a 0.8 % high - yield
bond rally as measured by the S&P U.S. Issued High Yield Corporate Bond Index.
The following day,
bonds rallied as the July 11 number of initial jobless claims unexpectedly increased to a two - month high of 360,000.
In the last crisis, Treasury
bonds rallied as a safe haven.
Not exact matches
The dollar has
rallied through much of the past week
as concerns over the U.S. - China trade dispute receded, and
as the U.S. 10 - year
bond yield shot past 3 percent for the first time in four years.
Also, Ablin added a large portion of the recent
rally involved a rotation from
bonds into stocks
as low interest rates forced investors to seek yield in the stock market.
U.S.
bond yields rose
as Wall Street shares
rallied.
That will have massive implications for all capital markets,
as bonds will bounce, the dollar
rally will stall in its tracks and equities could get a second wind due to a less aggressive Fed.
Therefore we expect the decline in interest rate futures, specifically the 10 - year Treasury Notes and 30 - year Treasury
Bonds to be a temporary effect of speculative exuberance, and for interest rate futures to
rally through the end of the month
as the heavily short speculators are forced out of their positions.
Junk -
bond ETFs
rallied on Wednesday,
as markets breathed relief that the «fiscal cliff» is no longer a concern and
as a result,
bond yields are under 6 percent for the first time ever, and junk ETF share prices hit levels not seen in years in some cases, according to an article on ETF Trends.
U.S.
bonds have been
rallying for several months, but that came to an abrupt end last week
as the yield on the 10 - year U.S. Treasury
bond rose to 1.95 % while two - year yields surged from 0.49 % to nearly 0.65 %.
As bond yields surged on Friday, high - yielding segments of the equity market such as utilities and REITs came under the most pressure, which shows that it won't take much of a rise in yields to derail their rall
As bond yields surged on Friday, high - yielding segments of the equity market such
as utilities and REITs came under the most pressure, which shows that it won't take much of a rise in yields to derail their rall
as utilities and REITs came under the most pressure, which shows that it won't take much of a rise in yields to derail their
rally.
He would also use any
rallies to lighten up on stocks that perform like
bonds, such
as utilities or telecoms.
We have benefited from this year's
rally in stocks and
bonds (our Multi Asset Risk Strategy ETF Model Portfolio has a Sharpe ratio of over 3 this year — and that's with no leverage), but we are managing our risk by incorporating asset classes such
as gold through the iShares Gold Trust (IAU); liquid alternatives through the IQ Hedge Multi-Strategy Tracker ETF (QAI), long - dated Treasuries through the iShares 20 + Year Treasury
Bond ETF (TLT)-- each of which diversify our portfolio risk and carry well within an ETF portfolio construct.
Oil plunged another 4 percent, while safe - haven government U.S. and German
bonds, and the yen and the euro,
rallied as widespread fears of a China - led global economic slowdown and currency war kicked in.
Treasury yields fall after tepid eurozone inflation data spark German bund
rally European government
bonds strengthened
as inflation weakensTreasury yields retreat on Thursday by falling rates in European government
bonds after eurozone inflation data came in weaker than expected.
As Wolf Richter pointed out for Wolf Street earlier this month: «Since mid-December 2016, the Fed has hiked rates four times, in total by 1 percentage point, but over the same period, junk bond yields rated CCC or below have declined 1.5 percentage points as the bonds have rallied.&raqu
As Wolf Richter pointed out for Wolf Street earlier this month: «Since mid-December 2016, the Fed has hiked rates four times, in total by 1 percentage point, but over the same period, junk
bond yields rated CCC or below have declined 1.5 percentage points
as the bonds have rallied.&raqu
as the
bonds have
rallied.»
The outcome for the debt markets is a mixed bag for some
bonds rally while the debt of smaller peripheral economies take a hit
as the risk - off trade is initiated to the possible negative fallout from the lopsided Greek vote of NO.
The size of the package, the open - ended nature of the commitment and the willingness to purchase longer dated
bonds all came
as positive surprises to investors, driving this past week's strong equity
rally.
Despite hawkish FOMC minutes and a stronger U.S. dollar, Indonesian
bonds rallied 10.15 % year - to - date (YTD), outperforming the other nine countries tracked by the S&P Pan Asia
Bond Index, data
as of Jun 7, 2016.
A reduction from $ 60 billion to $ 30 billion per month was scheduled for the start of 2018, but the dovish tone of ECB President Mario Draghi's accompanying comments — emphasizing that the QE program could be extended beyond September 2018, and giving no indication of an end date — came
as something of a surprise to market participants, sparking a
rally in eurozone
bonds and a moderate selloff in the euro.
Rates subsequently bear steepened
as long - end led the weakness, but renewed decline in risk sentiment managed to create a soft ceiling for
bond yields, and the rates market
rallied into the close.
The narrative of higher rates being a headwind for gold seems to be falling apart,
as the 10 year yield in the US seems to be on an upswing, and gold is
rallying at the same time that
bond values fall.
(However, HYG and junk
bond funds are continuing to
rally as the hunt for yield continues)
And we keep wondering if the systemic shortage of investable assets will cause another
bond rally such
as followed the 2016 election.
Bonds rallying hard along with equities
as the flight to safety pushes sovereign debt «more» negative.
Is the failure of
bonds to
rally meaningfully,
as have stocks, an expression of initial investor questioning of Fed credibility?
So
as the threat of AUSTERITY diminishes, the more a nation's
bonds rally.
Treasury 30 - year
bonds advanced after biggest quarterly
rally since the depths of the financial crisis in 2008
as the Federal Reserve prepared to buy longer - term debt under the program known
as Operation Twist.
As risky assets like equities and high yield
bonds have come under pressure, gold has
rallied roughly 4 % (source: Bloomberg).
Ironically, it's this
bond that allowed us
as a group at the house to
rally around JR and eat this way to save his life.
For what it is worth, there was a humongous
rally in long
bonds as people sought safety.
They trade
as if there is no conversion option, and some clever junk
bond managers buy them, knowing that if a few of them have stocks that
rally significantly, they will make enough extra money to aid their performance.
5) Spreads were wide one week ago, even among European government
bonds, and last week,
as these two posts from Accrued Interest point out, we had a significant
rally in spread terms last week.
[1] Sovereign
bonds have had a strong
rally since then; the total return rose 10.82 % YTD, while the yield - to - maturity tightened 103 bps to 3.21 %, according to the S&P Philippines Sovereign
Bond Index
as of Aug. 4, 2016.
With the Fed's zero interest rate policy in place through 2014, this is certainly pushing money into equities
as well
as the junk
bond rally that saw record inflows last week
as well.
Cleary, equity based alternative strategies, such
as long / short equity, struggled to keep up with the strong
rally in March, however, nontraditional
bond funds performed well relative to their long - only counterpart (Intermediate Term
Bonds).
This
bond breakout underway is issuing a stark warning: Get out of passive stock investments and real estate on any near - term
rallies... If yields spike,
as I expect we'll see, it'll send both asset classes into free fall.
After the news, Canadian sovereign
bonds,
as measured by the S&P Canada Sovereign
Bond Index,
rallied by 0.45 %, and this continued into Jan. 23, 2015, with a 0.30 % daily total return.
Norway's CPI for April clocked in at 2 % YOY, and its
bond market
rallied as well.
Germany, viewed
as a
bond market safe haven, saw its bond market rally in contrast, with the S&P Germany Sovereign Bond Index tightening 8bps from Friday's cl
bond market safe haven, saw its
bond market rally in contrast, with the S&P Germany Sovereign Bond Index tightening 8bps from Friday's cl
bond market
rally in contrast, with the S&P Germany Sovereign
Bond Index tightening 8bps from Friday's cl
Bond Index tightening 8bps from Friday's close.
In this scenario,
bonds could
rally their standard 3 to 5 percent
as stocks fell 15 or 20 percent.
The Australian dollar has fallen to a new four month low
as the US dollar
rallies against most major currencies after US Treasury
bonds broke the three per cent mark.
Intermediate corporate
bonds as measured by the plain vanilla Vanguard Intermediate
bond fund (VCIT is the ETF version of VFICX)
rallied +2.3 % in the month, the 7th best return in a calendar month since 12/31/02 (103 months).
This weeks weakness is due to a
rally in crude oil prices, a pickup in government
bond yields
as inflation rises and geo - political uneasiness around the globe.
Fixed Income December was a good month for
bonds,
as both government and corporate debt
rallied.
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rally, and standard compliance
as sport provides physical and mental stimulation while raising the dog's
bond with its family.
Dog sports for example retrieving, agility, racing, lure coursing, monitoring, flyball, Frisbee, musical freestyle,
rally and standard compliance
as sport will help supply additional physical and mental stimulation while helping the dog
bond nicely with its family.