Strategy : Bonds For Secular Stagnation
Secular stagnation is the “New Neutral“. Larry Summers was definitely no sour grapes when he brought up the secular stagnation issue last Dec shortly after he pulled out of the Fed chair race… Continue reading
Tag Archive: HDB 2.505% 06/2024
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Bonds In Conversation : Sorry America And Thank You.
What does one expect to gain by saying this ? “I can only say: I’m sorry, America. As a former Federal Reserve official, I was responsible for executing the centerpiece program of the… Continue reading
Bonds In Conversation : Rejoice, Revel & Reap The ShutDown
Caveat emptor : Non Americans only The shut down has been good for the rest of the world. Equities and credit markets are holding more than steady. Bonds are outperforming, even high yields… Continue reading
Bonds In Conversation : Fed With A Heart For How Long ?
“America’s companies, from Apple Inc. (AAPL) to Verizon Communications Inc., are saving about $700 billion in interest payments with the Federal Reserve’s unprecedented stimulus.” http://www.bloomberg.com/news/2013-09-17/bernanke-saves-companies-700-billion-as-apple-to-verizon-borrow.html We have not counted what the rest of… Continue reading
Bonds In Conversation : Survival of The Fittest
Largest Bond Deal Ever In History Verizon (Baa1/BBB+/A-) Sells $49b in 8-Part Offering, Largest Bond Deal Ever Verizon’s deal tops Apple’s 6-part, $17b offering. $4.25b 3Y fixed sold at+165bps $2.25 3Y FRN sold… Continue reading
SGD NEW ISSUE : HDB 5Y 2.365% IT’S TIME TO RECALIBRATE YOUR RISK FREE RATE
Our valuation systems have just been thrown off the scale ! It’s off the radar because HDB just launched a 5 year this morning at 2.365%. Do you have any idea what this… Continue reading
Bonds In Conversation : War Games
An interesting observation from the recent wars is that they start in March. http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/08-2/20130828_war.jpg So the west is going to war with Syria/Russia. https://tradehaven.net/market/ad-hoc-commentary-the-many-short-term-benefits-of-restarting-the-cold-war-through-syria/ India is grappling with a currency war this… Continue reading
Bonds In Conversation : The Day The Music Died (Updated)
I have a personal signal for market distress. 2nd hand Lamborghinis for sale. In the recent month, we have seen the listings jump a few fold. Someone told me long ago that… Continue reading
A Trade Suggestion : HDB Bonds
It escaped my notice but I finally read something I wrote and a trade idea struck me. Bond trade ideas do not come to me easily these days because, 1. I am not… Continue reading