Canaries in the Coal Mine Part III – The Others
The final group of canaries don’t have anything in common. I just grouped them together to avoid having three more small canaries. Let’s start with high yield (junk) bonds which I write about very often on the blog. I like to use one of the exchange traded funds (ETF) ones as well as one from the mutual fund space. Right below, you can see JNK which is one of the two major high yield bond ETFs. It peaked in early […]
Read More
Date: June 15, 2018
One Door Closes Another Opens
On Wednesday, to no one’s surprise, Janet Yellen & Co. ended the Fed’s 5+ year experiment of purchasing assets in the treasury and mortgage backed securities market, also known as quantitative easing (QE) or money printing. I won’t rehash all of the reasons why I continue to believe this is a misguided strategy, but it is. Before the ink was even dry on the statement, the Bank of Japan completely caught the markets off guard last night with another ramp […]
Read More
Date: October 31, 2014
Bears Still Fleeing Bonds et al
It’s been a relentless assault on the bond market and other interest rate sensitive instruments of late. Treasury bonds, mortgage backed securities, high quality corporate bonds, junk bonds, utilities, REITs have seen intense selling pressure that has only paused for a day here and there since late April. Telecom, REITs and high yield bond mutual funds all hit our sell triggers last month and it certainly feels like consumer staples mutual funds and a few more bond ETFs aren’t too far behind. […]
Read More
Date: June 5, 2013
