
was 0.135. This is not too surprising, since we know that junk bond spreads are being squeezed. But meanwhile, the NAV has been rising; the uptrend in junk ETFs (HYG, JNK ) continues. Quite the divergence... anyone care to explain?
who bought T-bonds has moved to investment grade corporates ( LQD ), the guy who bought IG is now in high-yield ( HYG , JNK ), and so on (glasses clink in the FOMC board room). Their largest position is Sprint Nextel ( S ) - as fans of Masayoshi
over , but isn't expecting a 1994-like meltdown in Treasurys. He instead thinks Treasurys ( TLT ) and corporates - both investment-grade ( LQD ) and high-yield ( HYG , JNK ) - won't move much over the coming 12 months. 1 comment!
By Ploutos : With monetary accommodation from the Federal Reserve now always prefaced with the word "extraordinary," it is not surprising that we are seeing new records throughout the fixed income universe. The speculative grade bond market set a new record last week with the yield-to-worst on the
By Stone Fox Capital: While Prospect Capital Corporation ( PSEC ) continues to report record originations, the company is failing to pull those numbers to the net investment income (NII) line. Not only did the last quarter show essentially flat NII, but also it occurred on a substantially higher ...
By Ray Merola : An old investment principle goes something like this: "The rate of return sought by the investor should be proportionate to the amount of risk he / she is prepared to accept." I respectfully see things a bit differently. I believe that investment returns are more or less dependent
Wall Street Breakfast Editors submit: Top Stories In surprise move, South Korea cuts rates. In a surprise move, the South Korean central bank cut interest rates by 25 basis points Thursday, calling economic activity in the eurozone and emerging markets "sluggish" and "weaker than initially ...
down from 5.7% at year end, and 6.1% a year ago. Investment-grade paper ( LQD ) came in at 3%, speculative ( HYG , JNK ) at 6.3%. New issuance in Q1 was $259.5B, putting 2013 on pace with 2012's record activity. Rating activity remains
By Ploutos : In January 2013, I began authoring a monthly series on momentum strategies within the fixed income universe. In past articles, I have highlighted momentum strategies across asset classes that have produced excess returns per risk borne, or alpha, over long-time intervals. Momentum ...
It's an easy market to hate, but junk bond prices ( HYG , JNK ) keep going higher, the yield on the benchmark BAML index hitting an all-time low of 5.084%. The spread to Treasurys