Sunday, 18 June 2017

Stories we should be thinking about

Stories we should be thinking about

Macro matters:

Let’s start with global bonds this week – supposedly the longer-term / better insight into market and their value has been rising (i.e. prices up, yields down):


Is this exhibiting pessimism about the world?  Certainly if you look at the US Treasury yields they are barely reacting to higher interest rates. 



And as noted by @lcdloans covenant lite loans are rising:



Put it all together and some unusual signalling by the bond markets: pessimism in government bonds about the world but risk-embracing in the corporate bond fraternity.  


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