Bonds Analysis & Opinion

Strategically Shorting BondsI have been shorting the U.S. 10-Year Treasury strategically the last 6 months, buying the oversold yield conditions right before the employment report ramps up yields. It...

High Quality Liquid Assets (HQLA) is a term that now applies to the implementation of the Liquidity Coverage Ratio (LCR) in the Basel III Rule. This highly technical mouthful of acronyms and rules...

“If saving money is wrong, I don't want to be right!” - William ShatnerIn a world where bonds and stocks have correlated in an unusually high way, any kind of risk trigger has been...

We've made the case before (see here) that for all the pomp and circumstance, Fed policy over the last three decades has done very little to deviate yields from what became a genuinely symmetrical and...

Large Speculator 10 year note sentiment flips back to bearish levels U.S. 10-Year Treasuries: Large futures market traders and speculators turned their overall net positions back into bearish...

Hopefully readers can see the weekly chart of the U.S. 10-Year Treasury Yield, from the TNX or the CBOE 10-Year Treasury Yield Index contract. It looks like a perfect “hold” or save...

Global economic growth has slowed over the past few years. Economists such as Larry Summers are talking about secular stagnation. If this is happening, then demography may be the best explanation for...

Would you have guessed that 8 months ago the S&P 500 would hit 2,000 and that the Government bond ETF iShares Barclays 20+ Year Treasury (ARCA:TLT) would be up twice as much as the broad market on...

How to properly value European BondsThis seems to be the biggest question in financial markets for me right now because the math just doesn't add up any way you slice it. When you look at the pricing...

There will be another tap auction of SGBi3109 (June 2025) on 28 August. We recommend buying the bond in the auction, as we continue to recommend real rate flatteners. Despite the recent performance,...

European yields have reached record lows after ECB expectations US Bonds have been caught up in the rise in demand driving US yields lower Emerging markets hurt as flows have pared back expecting Fed...

Right now investors in European Bonds are running over each other all in an effort to front run what the Big Banks have been begging the ECB to begin a bond buying program similar to the United...

Bund future bias above 151.09 for 151.18 and targets at 151.36, maybe 151.76We stated in our last client report that “for Tuesday, we see digestion between 150.40 and 151.09” and the...