Bonds Analysis & Opinion

Cash is no longer trash, courtesy of sharply higher interest rates. Trailing yields on risky assets are looking up too.The source for the change in payout rates, of course, is a run of rate hikes by...

There is a time to be long, a time to be short, and a time to go fishing.As inflation skyrocketed and the Fed turned hawkish, bonds were kryptonite for investors for most of 2022: it was time to be...

US consumer inflation continues to ease, but less so than expected in January. Yesterday’s update suggests that the Federal Reserve will see the latest numbers as a new sign that pricing...

After taking a beating last year, US fixed income securities have clawed back some of the losses so far in 2023, based on a set of ETFs through yesterday's close (Feb. 9). But with the Federal Reserve...

Through the recent gyrations, markets seem to lack the conviction needed to push new lows in rates. The resulting range-trading environment brings lower rates of volatility and better risk appetite....

When I started working in the financial markets, bond traders were the cool kids. The equity guys drove Maseratis and acted like buffoons, but the bond guys drove sensible style like Mercedes and...

I was going to write a technical column today about how the sensitivity of bonds (and consequently, lots of other asset prices) to interest rates increase as interest rates decline, and discuss the...

Interest rates have risen rather quickly as the Federal Reserve attempts to fight inflation. Will the move be a case of too far, too fast?Today’s long-term monthly chart of the United States...

The past few years have seen extreme volatility in the bond market, equating to similar interest rate fluctuations.And it all started with the onset of the coronavirus. The initial panic decline in...

Considering our national debt and the debts of companies and consumers, it’s evident that the bond market is critical to our economy.This is likely why the iShares iBoxx Investment Grade...

Weaker domestic inflation and lower dollar tailwinds for international fixed income Emerging market bonds have rallied sharply off their October low Continuation likely, but gains could be...

For someone who uses the bond markets as important indicators to the macro analysis, I am the furthest thing from an astute bond trader and am certainly not a bond investor. This probably owes to the...

Last month I reported that the ‘fair value’ of the US 10-year Treasury yield appeared “lofty” relative to the average estimate for a combination model. In the weeks since, the...

The recent rise in real yields for inflation-indexed Treasuries (TIPS) looks compelling for locking in relatively attractive payout rates, but the usual risks with bonds still applies. That...