1-30 Laddered Treasury Powershares (PLW) 33.20 $PLW
FOMC voters getting itchy trigger fingers
Seeking Alpha - at Seeking Alpha - Tue Feb 10, 12:26PM CST
DTUS: 34.68 (-0.16), FLAT: 61.92 (-0.15), USFR: 24.89 (unch), TFLO: 50.07 (-0.06), DTUL: 62.62 (-0.15), STPP: 33.20 (+0.19), TAPR: 31.63 (+0.44), SCHO: 50.62 (-0.01), TUZ: 50.92 (-0.01), SHY: 84.64 (unch), BIL: 45.73 (+0.01), SST: 30.16 (-0.01), VGSH: 60.96 (-0.02), PLW: 33.20 (-0.21), SHV: 110.27 (+0.01), GOVT: 25.33 (-0.06)
Why We're Cautious On Credit
Invesco US - Seeking Alpha - Mon Feb 09, 3:23PM CST
By Rob Waldner In the current environment of rising global volatility and potentially weak U.S. corporate earnings growth, Invesco Fixed Income is cautious on U.S. and European credit. While European investment grade credit may be supported by...
PFIG: 25.58 (-0.05), PHB: 19.00 (-0.08), PICB: 27.60 (+0.01), PLW: 33.20 (-0.21)
A Very Pernicious Partnership: Keynesian Money Printers And Wall Street Gamblers
David Stockman - Seeking Alpha - Mon Feb 09, 1:53PM CST
No sooner was the January jobs report released than the Wall Street Journal posted a succinct headline: "Hiring, Wages Pick Up as Job Market Nears Full Health". Whether the job market is actually as red hot as the BLS' headline numbers...
TLH: 136.86 (-0.66), TBX: 30.03 (+0.07), DFVS: 33.70 (+0.16), TBZ: 29.08 (unch), DFVL: 65.54 (+1.42), DLBL: 78.14 (+0.78), SINF: 47.80 (unch), MBG: 27.29 (+0.01), TLO: 73.76 (-0.77), UBT: 83.49 (-1.42), TLT: 128.19 (-1.33), STIP: 99.28 (-0.02), TBT: 44.22 (+0.88), RINF: 30.25 (+0.05), DLBS: 20.57 (+0.51), ZROZ: 123.35 (-1.57), FINF: 42.47 (-0.64), HOLD: 99.38 (+0.07), ITE: 60.17 (-0.06), TYO: 17.93 (+0.14), TTT: 38.96 (+1.14), SCHO: 50.62 (-0.01), SCHP: 54.49 (-0.11), MBB: 109.88 (+0.03), GMTB: 52.35 (-0.02), GSY: 49.94 (+0.01), SCHR: 53.88 (-0.11), UINF: 27.79 (+0.01), SYTL: 88.67 (-3.56), TPS: 26.90 (-0.02), TYBS: 22.40 (+0.20), TIP: 112.66 (-0.23), IEI: 123.09 (-0.14), DTYL: 76.39 (-1.24), TYD: 46.21 (-0.08), IEF: 107.18 (-0.36), PST: 24.08 (+0.14), DTUS: 34.68 (-0.16), EDV: 126.88 (-1.85), GNMA: 50.34 (-0.26), DTYS: 20.97 (+0.37), TYNS: 30.29 (+0.49), TFLO: 50.07 (-0.06), TMV: 29.17 (+0.87), DTUL: 62.62 (-0.15), LTPZ: 66.86 (-0.42), VTIP: 48.41 (-0.03), SBND: 4.44 (+0.08), TBF: 24.63 (+0.25), TUZ: 50.92 (-0.01), SHY: 84.64 (unch), VGLT: 78.92 (-0.70), RAVI: 75.36 (+0.03), TMF: 90.04 (-2.88), SHV: 110.27 (+0.01), ULST: 40.01 (unch), NEAR: 50.09 (-0.01), SIPE: 19.42 (unch), FLAT: 61.92 (-0.15), FTSM: 60.00 (unch), USFR: 24.89 (unch), TIPX: 19.30 (unch), AGZ: 114.28 (+0.08), ICSH: 50.02 (+0.09), TDTF: 24.73 (-0.03), TIPZ: 57.25 (-0.09), INFL: 39.28 (+0.47), TDTT: 24.39 (unch), FIVZ: 80.60 (unch), DEFL: 58.00 (unch), VGIT: 64.86 (-0.12), IPE: 56.23 (-0.11), UST: 56.86 (-0.32), TENZ: 86.50 (-0.21), LBND: 56.35 (-2.05), STPP: 33.20 (+0.19), TAPR: 31.63 (+0.44), VMBS: 53.15 (-0.09), STPZ: 51.87 (-0.03), BIL: 45.73 (+0.01), SST: 30.16 (-0.01), VGSH: 60.96 (-0.02), FTSD: 99.21 (unch), MINT: 101.06 (-0.01), PLW: 33.20 (-0.21), GOVT: 25.33 (-0.06)
U.S. Bond Yields Rise As Surge In Job Creation Leaves Mid-Year Rate Rise On The Table
Markit - at Seeking Alpha - Sun Feb 08, 6:00AM CST
The US labour market showed no signs of cooling at the start of the year, despite recent evidence that suggested the economy moved down a gear during the winter months. Employment once again grew more than expected in January and wage growth picked...
TAPR: 31.63 (+0.44), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
U.S. Labor Market Report Unambiguously Strong
Invesco US - Seeking Alpha - Fri Feb 06, 5:19PM CST
January's U.S. nonfarm payrolls report was unambiguously strong, suggesting increased hiring, higher wages and growth in the labor force. Rising hourly earnings, in particular, support our long-held view that the labor market is tightening and the...
PLW: 33.20 (-0.21)
The Myth Of Central Bank Stimulus And Economic Recovery
Elite Wealth Management - at Seeking Alpha - Thu Feb 05, 5:02PM CST
JGBL: 21.50 (unch), TAPR: 31.63 (+0.44), JGBT: 25.51 (-0.04), JGBS: 18.30 (unch), EU: 20.54 (-0.08), JGBB: 49.57 (+0.11), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21), JGBD: 15.54 (+0.04)
Something Perturbs 'Dollar' Funding
Joseph Calhoun - Seeking Alpha - Thu Feb 05, 3:37AM CST
By Jeffrey P. Snider Oh Europe. I have a growing sense that US credit markets are repeating the leadup to last October 15, though there isn't any obvious expression of any such illiquidity (at the moment). For one thing, the eurodollar curve has...
TAPR: 31.63 (+0.44), UUPT: 29.68 (-0.04), UDN: 22.76 (+0.03), USDU: 27.70 (unch), FORX: 44.02 (+0.09), UUP: 24.91 (-0.01), UDNT: 10.42 (-0.02), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Bond Market Update: January 2015
Concert Capital Management - at Seeking Alpha - Tue Feb 03, 2:25AM CST
Global economic and geo-political instability is providing global demand for U.S. bonds, and it doesn't look like this will end soon. Large capitalization corporate issuers appear to be stable in credit metrics (aside from energy sector leveraged...
SCHZ: 52.63 (-0.01), BOND: 109.14 (-0.10), VBND: 50.07 (-0.09), FBND: 50.52 (-0.06), IUSB: 101.13 (-0.22), SAGG: 32.96 (unch), GBF: 115.03 (-0.39), TAPR: 31.63 (+0.44), AGG: 110.76 (-0.13), BND: 82.80 (-0.19), LAG: 58.58 (-0.10), PLW: 33.20 (-0.21), GOVT: 25.33 (-0.06)
The Bond Market Has Reached Tulip Bubble Proportions
EconMatters - at Seeking Alpha - Sun Feb 01, 7:00AM CST
Fed Officials Trying to Send Signals to the Bond Market James Bullard on Friday noted that the bond market was far too dovish in relation to where the Fed is in regard to raising rates in June, and this might be the understatement of the year so...
TAPR: 31.63 (+0.44), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Cheap Oil, The Dollar, And Deflation
Jake Walsh - at Seeking Alpha - Sun Feb 01, 2:30AM CST
Originally published on December 7, 2014 I want to open a discussion on some of the wider economic implications of a lower oil price. The motivation behind this post is a discussion I had with a close friend, a former investment banker who...
UUP: 24.91 (-0.01), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Is The Dollar's Momentum Easing? Is A Deeper Pullback In The Stock Market Likely?
Marc Chandler - Seeking Alpha - Sat Jan 31, 10:39AM CST
The US dollar turned in a mixed performance in the last week of January. It slipped against the euro, yen, sterling and the Swedish krona, while rising against the other G10 currencies. The Swiss franc was the weakest of the majors, losing about...
OLO: 7.58 (+0.02), FXA: 77.69 (+0.23), BNO: 23.05 (+0.78), TFI: 24.12 (-0.02), TLT: 128.19 (-1.33), PVI: 24.94 (-0.01), SPY: 209.78 (+0.86), RVNU: 26.11 (+0.06), DNO: 54.24 (-1.32), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), OIL: 12.01 (+0.34), FXB: 151.21 (+0.01), FXC: 79.78 (+0.19), FXE: 112.16 (-0.15), OLEM: 25.07 (+0.30), FXF: 104.56 (-0.56), USO: 19.62 (+0.44), UCO: 9.19 (+0.39), DTO: 81.31 (-5.12), MUB: 109.95 (-0.13), UWTI: 3.71 (+0.23), XMPT: 26.55 (-0.02), SCO: 70.05 (-3.45), UUP: 24.91 (-0.01), FMB: 51.97 (-0.03), TAPR: 31.63 (+0.44), SZO: 60.00 (-4.31), DBO: 14.88 (+0.08), PZA: 25.34 (-0.13), DWTI: 95.90 (-7.40), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21), USL: 26.81 (+0.40)
The Surprising Consequences Of The Global Frenzy For Positive Yield
Charles Hugh Smith - Seeking Alpha - Wed Jan 28, 7:09AM CST
As the dollar soars, so does the real yield on bonds denominated in dollars. As central banks rush to depreciate their currencies and push yields into negative territory, what's becoming scarce globally is real yield in an appreciating currency . ...
TAPR: 31.63 (+0.44), UUPT: 29.68 (-0.04), UDN: 22.76 (+0.03), USDU: 27.70 (unch), FORX: 44.02 (+0.09), UUP: 24.91 (-0.01), UDNT: 10.42 (-0.02), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Gundlach: 2015 could be repeat of 1937
Seeking Alpha - at Seeking Alpha - Tue Jan 27, 11:45AM CST
DTYL: 76.39 (-1.24), IEI: 123.09 (-0.14), TBX: 30.03 (+0.07), DFVS: 33.70 (+0.16), TYD: 46.21 (-0.08), TBZ: 29.08 (unch), DFVL: 65.54 (+1.42), IEF: 107.18 (-0.36), PST: 24.08 (+0.14), UST: 56.86 (-0.32), FLAT: 61.92 (-0.15), DTYS: 20.97 (+0.37), TYNS: 30.29 (+0.49), STPP: 33.20 (+0.19), TAPR: 31.63 (+0.44), ITE: 60.17 (-0.06), TYO: 17.93 (+0.14), SCHR: 53.88 (-0.11), GSY: 49.94 (+0.01), SYTL: 88.67 (-3.56), FIVZ: 80.60 (unch), PLW: 33.20 (-0.21), VGIT: 64.86 (-0.12), GOVT: 25.33 (-0.06)
New Ideas For Bond Investors
Jeffrey Rosenberg - at Seeking Alpha - Mon Jan 26, 1:54PM CST
As resolutions go, rethinking your fixed-income portfolio may not resonate in quite the same way as dropping 10 pounds or finally giving up that smoking habit. But if ever there was an opportunity to reassess how you approach bond investing, now is...
LDUR: 100.51 (-0.11), FBND: 50.52 (-0.06), TFI: 24.12 (-0.02), PVI: 24.94 (-0.01), IUSB: 101.13 (-0.22), GBF: 115.03 (-0.39), RVNU: 26.11 (+0.06), PRB: 24.60 (+0.07), VRD: 29.81 (-0.02), AGG: 110.76 (-0.13), DI: 49.57 (+0.02), SCHZ: 52.63 (-0.01), BOND: 109.14 (-0.10), MUB: 109.95 (-0.13), VBND: 50.07 (-0.09), FWDB: 25.72 (+0.01), XMPT: 26.55 (-0.02), FMB: 51.97 (-0.03), SAGG: 32.96 (unch), TAPR: 31.63 (+0.44), LAG: 58.58 (-0.10), PZA: 25.34 (-0.13), BND: 82.80 (-0.19), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Global Macro Performance
The Short Side Of Long - at Seeking Alpha - Mon Jan 26, 1:43PM CST
Chart 1: Global bonds have outperformed all other major asset classes (click to enlarge) Source: Short Side of Long Let us quickly look at the 12 month performance of all major asset classes. Chart 1 shows three major equity regions: US,...
OUNZ: 12.26 (+0.06), WREI: 47.61 (-0.42), CEMB: 48.68 (-0.12), BNO: 23.05 (+0.78), BNDX: 53.60 (-0.11), IHY: 24.47 (+0.11), SCHH: 40.87 (-0.32), SGOL: 120.32 (+0.59), DRV: 22.00 (+0.46), FCOR: 50.60 (-0.38), DRW: 30.14 (+0.19), XOVR: 26.52 (+0.06), DNO: 54.24 (-1.32), DRN: 90.19 (-1.98), VNQI: 56.81 (+0.57), PICB: 27.60 (+0.01), BWX: 54.15 (-0.08), DTO: 81.31 (-5.12), WPS: 38.57 (+0.32), RWR: 95.23 (-0.83), RWO: 50.49 (-0.05), CBND: 32.79 (-0.10), RWX: 44.34 (+0.30), PSR: 76.21 (-0.67), IGOV: 94.02 (-0.09), IAU: 11.89 (+0.06), AGOL: 121.01 (-0.19), DWTI: 95.90 (-7.40), FRI: 23.33 (-0.16), OLO: 7.58 (+0.02), HYEM: 23.12 (+0.13), PGHY: 23.27 (-0.13), ANGL: 27.22 (-0.13), UJB: 58.70 (+0.35), GRI: 46.25 (+0.03), HYLD: 41.96 (+0.12), COBO: 100.50 (unch), HYXU: 48.49 (+0.13), JNK: 39.43 (+0.10), SUBD: 25.95 (-0.10), SJB: 27.31 (-0.03), IFGL: 32.06 (+0.34), REK: 19.56 (+0.19), EMCB: 71.33 (+0.16), OIL: 12.01 (+0.34), QLTC: 49.15 (unch), EMCD: 28.11 (-0.84), QLTB: 53.09 (-0.01), IYR: 80.31 (-0.44), QLTA: 52.21 (-0.10), URE: 115.05 (-1.18), OLEM: 25.07 (+0.30), HYLS: 50.48 (+0.38), VNQ: 85.06 (-0.57), CRED: 112.31 (-0.29), SRS: 11.55 (+0.12), RWXL: 37.70 (+0.59), REET: 27.26 (-0.11), IBND: 32.80 (-0.01), USO: 19.62 (+0.44), HYG: 91.12 (+0.13), EMHY: 47.82 (+0.48), UCO: 9.19 (+0.39), FFR: 46.14 (+0.10), EMRE: 24.61 (unch), UWTI: 3.71 (+0.23), IJNK: 22.75 (unch), FTY: 49.14 (-0.35), SCO: 70.05 (-3.45), ICF: 102.12 (-0.98), TAPR: 31.63 (+0.44), SZO: 60.00 (-4.31), DBO: 14.88 (+0.08), GLD: 117.98 (+0.64), LQD: 120.83 (-0.48), CORP: 103.79 (-0.25), IGU: 62.29 (+0.17), KBWY: 36.19 (-0.18), IGS: 28.64 (+0.57), GOVT: 25.33 (-0.06), USL: 26.81 (+0.40), PLW: 33.20 (-0.21)
High Yield Funds Unexpectedly Attract Net New Money For The Week
Lipper Insight at Thomson Reuters - Seeking Alpha - Tue Jan 20, 12:55PM CST
By Tom Roseen Despite a better-than-expected December nonfarm payrolls report released during the flows week ended January 14, 2015 (the U.S. economy added some 252,000 jobs for the month, and the unemployment rate dropped to 5.6%) and with...
JNK: 39.43 (+0.10), HYG: 91.12 (+0.13), SJB: 27.31 (-0.03), TAPR: 31.63 (+0.44), XOVR: 26.52 (+0.06), BYLD: 25.36 (unch), QLTC: 49.15 (unch), ANGL: 27.22 (-0.13), UJB: 58.70 (+0.35), HYLS: 50.48 (+0.38), HYLD: 41.96 (+0.12), YPRO: 23.93 (-0.03), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Buy The Rumor, Sell The News
Scott Minerd - Seeking Alpha - Mon Jan 19, 1:03AM CST
One year ago, a 10-year U.S. Treasury bond yielded around 3 percent, up from around 2.50 just months earlier. At the time, the market fretted that rates would continue to rise; our view was the opposite. Today's market is a different beast, however....
TAPR: 31.63 (+0.44), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Is 2015 The Year For Rising Interest Rates?
Matt Tucker, CFA - Seeking Alpha - Thu Jan 15, 9:50AM CST
As I discussed in a previous Blog post, interest rates defied expectations by continuing to decline in 2014. As we enter 2015, many investors are asking the same question: Will 2015 finally be the year for rising rates? At the beginning of each new...
SCHZ: 52.63 (-0.01), BOND: 109.14 (-0.10), VBND: 50.07 (-0.09), FBND: 50.52 (-0.06), IUSB: 101.13 (-0.22), SAGG: 32.96 (unch), GBF: 115.03 (-0.39), TAPR: 31.63 (+0.44), AGG: 110.76 (-0.13), BND: 82.80 (-0.19), LAG: 58.58 (-0.10), PLW: 33.20 (-0.21), GOVT: 25.33 (-0.06)
The Last Nail?
Joseph Calhoun - Seeking Alpha - Wed Jan 14, 3:40AM CST
By Jeffrey P. Snider The inflection points of the past year and a half or so have become waypoints by which to mark the progress toward seemingly darker days ahead. In many respects, as I tried to express earlier , this is nothing new not just in...
TAPR: 31.63 (+0.44), EU: 20.54 (-0.08), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
The Fed's $3.5T QE Purchases Have Generated $469B For The U.S. Treasury And Become One Of The Largest Sources Of Government Revenue
Mark J. Perry - Seeking Alpha - Tue Jan 13, 6:23AM CST
(click to enlarge) The Federal Reserve just released its annual income statement for 2014 , including details on its annual distribution of "residual earnings" to the US Treasury. Last year the Fed earned net income of $101.5 billion,...
TAPR: 31.63 (+0.44), VMBS: 53.15 (-0.09), MBG: 27.29 (+0.01), MBB: 109.88 (+0.03), GNMA: 50.34 (-0.26), AGZ: 114.28 (+0.08), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
FOMC voters getting itchy trigger fingers
Seeking Alpha - at Seeking Alpha - Tue Feb 10, 12:26PM CST
DTUS: 34.68 (-0.16), FLAT: 61.92 (-0.15), USFR: 24.89 (unch), TFLO: 50.07 (-0.06), DTUL: 62.62 (-0.15), STPP: 33.20 (+0.19), TAPR: 31.63 (+0.44), SCHO: 50.62 (-0.01), TUZ: 50.92 (-0.01), SHY: 84.64 (unch), BIL: 45.73 (+0.01), SST: 30.16 (-0.01), VGSH: 60.96 (-0.02), PLW: 33.20 (-0.21), SHV: 110.27 (+0.01), GOVT: 25.33 (-0.06)
Why We're Cautious On Credit
Invesco US - Seeking Alpha - Mon Feb 09, 3:23PM CST
By Rob Waldner In the current environment of rising global volatility and potentially weak U.S. corporate earnings growth, Invesco Fixed Income is cautious on U.S. and European credit. While European investment grade credit may be supported by...
PFIG: 25.58 (-0.05), PHB: 19.00 (-0.08), PICB: 27.60 (+0.01), PLW: 33.20 (-0.21)
A Very Pernicious Partnership: Keynesian Money Printers And Wall Street Gamblers
David Stockman - Seeking Alpha - Mon Feb 09, 1:53PM CST
No sooner was the January jobs report released than the Wall Street Journal posted a succinct headline: "Hiring, Wages Pick Up as Job Market Nears Full Health". Whether the job market is actually as red hot as the BLS' headline numbers...
TLH: 136.86 (-0.66), TBX: 30.03 (+0.07), DFVS: 33.70 (+0.16), TBZ: 29.08 (unch), DFVL: 65.54 (+1.42), DLBL: 78.14 (+0.78), SINF: 47.80 (unch), MBG: 27.29 (+0.01), TLO: 73.76 (-0.77), UBT: 83.49 (-1.42), TLT: 128.19 (-1.33), STIP: 99.28 (-0.02), TBT: 44.22 (+0.88), RINF: 30.25 (+0.05), DLBS: 20.57 (+0.51), ZROZ: 123.35 (-1.57), FINF: 42.47 (-0.64), HOLD: 99.38 (+0.07), ITE: 60.17 (-0.06), TYO: 17.93 (+0.14), TTT: 38.96 (+1.14), SCHO: 50.62 (-0.01), SCHP: 54.49 (-0.11), MBB: 109.88 (+0.03), GMTB: 52.35 (-0.02), GSY: 49.94 (+0.01), SCHR: 53.88 (-0.11), UINF: 27.79 (+0.01), SYTL: 88.67 (-3.56), TPS: 26.90 (-0.02), TYBS: 22.40 (+0.20), TIP: 112.66 (-0.23), IEI: 123.09 (-0.14), DTYL: 76.39 (-1.24), TYD: 46.21 (-0.08), IEF: 107.18 (-0.36), PST: 24.08 (+0.14), DTUS: 34.68 (-0.16), EDV: 126.88 (-1.85), GNMA: 50.34 (-0.26), DTYS: 20.97 (+0.37), TYNS: 30.29 (+0.49), TFLO: 50.07 (-0.06), TMV: 29.17 (+0.87), DTUL: 62.62 (-0.15), LTPZ: 66.86 (-0.42), VTIP: 48.41 (-0.03), SBND: 4.44 (+0.08), TBF: 24.63 (+0.25), TUZ: 50.92 (-0.01), SHY: 84.64 (unch), VGLT: 78.92 (-0.70), RAVI: 75.36 (+0.03), TMF: 90.04 (-2.88), SHV: 110.27 (+0.01), ULST: 40.01 (unch), NEAR: 50.09 (-0.01), SIPE: 19.42 (unch), FLAT: 61.92 (-0.15), FTSM: 60.00 (unch), USFR: 24.89 (unch), TIPX: 19.30 (unch), AGZ: 114.28 (+0.08), ICSH: 50.02 (+0.09), TDTF: 24.73 (-0.03), TIPZ: 57.25 (-0.09), INFL: 39.28 (+0.47), TDTT: 24.39 (unch), FIVZ: 80.60 (unch), DEFL: 58.00 (unch), VGIT: 64.86 (-0.12), IPE: 56.23 (-0.11), UST: 56.86 (-0.32), TENZ: 86.50 (-0.21), LBND: 56.35 (-2.05), STPP: 33.20 (+0.19), TAPR: 31.63 (+0.44), VMBS: 53.15 (-0.09), STPZ: 51.87 (-0.03), BIL: 45.73 (+0.01), SST: 30.16 (-0.01), VGSH: 60.96 (-0.02), FTSD: 99.21 (unch), MINT: 101.06 (-0.01), PLW: 33.20 (-0.21), GOVT: 25.33 (-0.06)
U.S. Bond Yields Rise As Surge In Job Creation Leaves Mid-Year Rate Rise On The Table
Markit - at Seeking Alpha - Sun Feb 08, 6:00AM CST
The US labour market showed no signs of cooling at the start of the year, despite recent evidence that suggested the economy moved down a gear during the winter months. Employment once again grew more than expected in January and wage growth picked...
TAPR: 31.63 (+0.44), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
U.S. Labor Market Report Unambiguously Strong
Invesco US - Seeking Alpha - Fri Feb 06, 5:19PM CST
January's U.S. nonfarm payrolls report was unambiguously strong, suggesting increased hiring, higher wages and growth in the labor force. Rising hourly earnings, in particular, support our long-held view that the labor market is tightening and the...
PLW: 33.20 (-0.21)
The Myth Of Central Bank Stimulus And Economic Recovery
Elite Wealth Management - at Seeking Alpha - Thu Feb 05, 5:02PM CST
JGBL: 21.50 (unch), TAPR: 31.63 (+0.44), JGBT: 25.51 (-0.04), JGBS: 18.30 (unch), EU: 20.54 (-0.08), JGBB: 49.57 (+0.11), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21), JGBD: 15.54 (+0.04)
Something Perturbs 'Dollar' Funding
Joseph Calhoun - Seeking Alpha - Thu Feb 05, 3:37AM CST
By Jeffrey P. Snider Oh Europe. I have a growing sense that US credit markets are repeating the leadup to last October 15, though there isn't any obvious expression of any such illiquidity (at the moment). For one thing, the eurodollar curve has...
TAPR: 31.63 (+0.44), UUPT: 29.68 (-0.04), UDN: 22.76 (+0.03), USDU: 27.70 (unch), FORX: 44.02 (+0.09), UUP: 24.91 (-0.01), UDNT: 10.42 (-0.02), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Bond Market Update: January 2015
Concert Capital Management - at Seeking Alpha - Tue Feb 03, 2:25AM CST
Global economic and geo-political instability is providing global demand for U.S. bonds, and it doesn't look like this will end soon. Large capitalization corporate issuers appear to be stable in credit metrics (aside from energy sector leveraged...
SCHZ: 52.63 (-0.01), BOND: 109.14 (-0.10), VBND: 50.07 (-0.09), FBND: 50.52 (-0.06), IUSB: 101.13 (-0.22), SAGG: 32.96 (unch), GBF: 115.03 (-0.39), TAPR: 31.63 (+0.44), AGG: 110.76 (-0.13), BND: 82.80 (-0.19), LAG: 58.58 (-0.10), PLW: 33.20 (-0.21), GOVT: 25.33 (-0.06)
The Bond Market Has Reached Tulip Bubble Proportions
EconMatters - at Seeking Alpha - Sun Feb 01, 7:00AM CST
Fed Officials Trying to Send Signals to the Bond Market James Bullard on Friday noted that the bond market was far too dovish in relation to where the Fed is in regard to raising rates in June, and this might be the understatement of the year so...
TAPR: 31.63 (+0.44), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Cheap Oil, The Dollar, And Deflation
Jake Walsh - at Seeking Alpha - Sun Feb 01, 2:30AM CST
Originally published on December 7, 2014 I want to open a discussion on some of the wider economic implications of a lower oil price. The motivation behind this post is a discussion I had with a close friend, a former investment banker who...
UUP: 24.91 (-0.01), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Is The Dollar's Momentum Easing? Is A Deeper Pullback In The Stock Market Likely?
Marc Chandler - Seeking Alpha - Sat Jan 31, 10:39AM CST
The US dollar turned in a mixed performance in the last week of January. It slipped against the euro, yen, sterling and the Swedish krona, while rising against the other G10 currencies. The Swiss franc was the weakest of the majors, losing about...
OLO: 7.58 (+0.02), FXA: 77.69 (+0.23), BNO: 23.05 (+0.78), TFI: 24.12 (-0.02), TLT: 128.19 (-1.33), PVI: 24.94 (-0.01), SPY: 209.78 (+0.86), RVNU: 26.11 (+0.06), DNO: 54.24 (-1.32), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), OIL: 12.01 (+0.34), FXB: 151.21 (+0.01), FXC: 79.78 (+0.19), FXE: 112.16 (-0.15), OLEM: 25.07 (+0.30), FXF: 104.56 (-0.56), USO: 19.62 (+0.44), UCO: 9.19 (+0.39), DTO: 81.31 (-5.12), MUB: 109.95 (-0.13), UWTI: 3.71 (+0.23), XMPT: 26.55 (-0.02), SCO: 70.05 (-3.45), UUP: 24.91 (-0.01), FMB: 51.97 (-0.03), TAPR: 31.63 (+0.44), SZO: 60.00 (-4.31), DBO: 14.88 (+0.08), PZA: 25.34 (-0.13), DWTI: 95.90 (-7.40), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21), USL: 26.81 (+0.40)
The Surprising Consequences Of The Global Frenzy For Positive Yield
Charles Hugh Smith - Seeking Alpha - Wed Jan 28, 7:09AM CST
As the dollar soars, so does the real yield on bonds denominated in dollars. As central banks rush to depreciate their currencies and push yields into negative territory, what's becoming scarce globally is real yield in an appreciating currency . ...
TAPR: 31.63 (+0.44), UUPT: 29.68 (-0.04), UDN: 22.76 (+0.03), USDU: 27.70 (unch), FORX: 44.02 (+0.09), UUP: 24.91 (-0.01), UDNT: 10.42 (-0.02), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Gundlach: 2015 could be repeat of 1937
Seeking Alpha - at Seeking Alpha - Tue Jan 27, 11:45AM CST
DTYL: 76.39 (-1.24), IEI: 123.09 (-0.14), TBX: 30.03 (+0.07), DFVS: 33.70 (+0.16), TYD: 46.21 (-0.08), TBZ: 29.08 (unch), DFVL: 65.54 (+1.42), IEF: 107.18 (-0.36), PST: 24.08 (+0.14), UST: 56.86 (-0.32), FLAT: 61.92 (-0.15), DTYS: 20.97 (+0.37), TYNS: 30.29 (+0.49), STPP: 33.20 (+0.19), TAPR: 31.63 (+0.44), ITE: 60.17 (-0.06), TYO: 17.93 (+0.14), SCHR: 53.88 (-0.11), GSY: 49.94 (+0.01), SYTL: 88.67 (-3.56), FIVZ: 80.60 (unch), PLW: 33.20 (-0.21), VGIT: 64.86 (-0.12), GOVT: 25.33 (-0.06)
New Ideas For Bond Investors
Jeffrey Rosenberg - at Seeking Alpha - Mon Jan 26, 1:54PM CST
As resolutions go, rethinking your fixed-income portfolio may not resonate in quite the same way as dropping 10 pounds or finally giving up that smoking habit. But if ever there was an opportunity to reassess how you approach bond investing, now is...
LDUR: 100.51 (-0.11), FBND: 50.52 (-0.06), TFI: 24.12 (-0.02), PVI: 24.94 (-0.01), IUSB: 101.13 (-0.22), GBF: 115.03 (-0.39), RVNU: 26.11 (+0.06), PRB: 24.60 (+0.07), VRD: 29.81 (-0.02), AGG: 110.76 (-0.13), DI: 49.57 (+0.02), SCHZ: 52.63 (-0.01), BOND: 109.14 (-0.10), MUB: 109.95 (-0.13), VBND: 50.07 (-0.09), FWDB: 25.72 (+0.01), XMPT: 26.55 (-0.02), FMB: 51.97 (-0.03), SAGG: 32.96 (unch), TAPR: 31.63 (+0.44), LAG: 58.58 (-0.10), PZA: 25.34 (-0.13), BND: 82.80 (-0.19), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Global Macro Performance
The Short Side Of Long - at Seeking Alpha - Mon Jan 26, 1:43PM CST
Chart 1: Global bonds have outperformed all other major asset classes (click to enlarge) Source: Short Side of Long Let us quickly look at the 12 month performance of all major asset classes. Chart 1 shows three major equity regions: US,...
OUNZ: 12.26 (+0.06), WREI: 47.61 (-0.42), CEMB: 48.68 (-0.12), BNO: 23.05 (+0.78), BNDX: 53.60 (-0.11), IHY: 24.47 (+0.11), SCHH: 40.87 (-0.32), SGOL: 120.32 (+0.59), DRV: 22.00 (+0.46), FCOR: 50.60 (-0.38), DRW: 30.14 (+0.19), XOVR: 26.52 (+0.06), DNO: 54.24 (-1.32), DRN: 90.19 (-1.98), VNQI: 56.81 (+0.57), PICB: 27.60 (+0.01), BWX: 54.15 (-0.08), DTO: 81.31 (-5.12), WPS: 38.57 (+0.32), RWR: 95.23 (-0.83), RWO: 50.49 (-0.05), CBND: 32.79 (-0.10), RWX: 44.34 (+0.30), PSR: 76.21 (-0.67), IGOV: 94.02 (-0.09), IAU: 11.89 (+0.06), AGOL: 121.01 (-0.19), DWTI: 95.90 (-7.40), FRI: 23.33 (-0.16), OLO: 7.58 (+0.02), HYEM: 23.12 (+0.13), PGHY: 23.27 (-0.13), ANGL: 27.22 (-0.13), UJB: 58.70 (+0.35), GRI: 46.25 (+0.03), HYLD: 41.96 (+0.12), COBO: 100.50 (unch), HYXU: 48.49 (+0.13), JNK: 39.43 (+0.10), SUBD: 25.95 (-0.10), SJB: 27.31 (-0.03), IFGL: 32.06 (+0.34), REK: 19.56 (+0.19), EMCB: 71.33 (+0.16), OIL: 12.01 (+0.34), QLTC: 49.15 (unch), EMCD: 28.11 (-0.84), QLTB: 53.09 (-0.01), IYR: 80.31 (-0.44), QLTA: 52.21 (-0.10), URE: 115.05 (-1.18), OLEM: 25.07 (+0.30), HYLS: 50.48 (+0.38), VNQ: 85.06 (-0.57), CRED: 112.31 (-0.29), SRS: 11.55 (+0.12), RWXL: 37.70 (+0.59), REET: 27.26 (-0.11), IBND: 32.80 (-0.01), USO: 19.62 (+0.44), HYG: 91.12 (+0.13), EMHY: 47.82 (+0.48), UCO: 9.19 (+0.39), FFR: 46.14 (+0.10), EMRE: 24.61 (unch), UWTI: 3.71 (+0.23), IJNK: 22.75 (unch), FTY: 49.14 (-0.35), SCO: 70.05 (-3.45), ICF: 102.12 (-0.98), TAPR: 31.63 (+0.44), SZO: 60.00 (-4.31), DBO: 14.88 (+0.08), GLD: 117.98 (+0.64), LQD: 120.83 (-0.48), CORP: 103.79 (-0.25), IGU: 62.29 (+0.17), KBWY: 36.19 (-0.18), IGS: 28.64 (+0.57), GOVT: 25.33 (-0.06), USL: 26.81 (+0.40), PLW: 33.20 (-0.21)
High Yield Funds Unexpectedly Attract Net New Money For The Week
Lipper Insight at Thomson Reuters - Seeking Alpha - Tue Jan 20, 12:55PM CST
By Tom Roseen Despite a better-than-expected December nonfarm payrolls report released during the flows week ended January 14, 2015 (the U.S. economy added some 252,000 jobs for the month, and the unemployment rate dropped to 5.6%) and with...
JNK: 39.43 (+0.10), HYG: 91.12 (+0.13), SJB: 27.31 (-0.03), TAPR: 31.63 (+0.44), XOVR: 26.52 (+0.06), BYLD: 25.36 (unch), QLTC: 49.15 (unch), ANGL: 27.22 (-0.13), UJB: 58.70 (+0.35), HYLS: 50.48 (+0.38), HYLD: 41.96 (+0.12), YPRO: 23.93 (-0.03), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Buy The Rumor, Sell The News
Scott Minerd - Seeking Alpha - Mon Jan 19, 1:03AM CST
One year ago, a 10-year U.S. Treasury bond yielded around 3 percent, up from around 2.50 just months earlier. At the time, the market fretted that rates would continue to rise; our view was the opposite. Today's market is a different beast, however....
TAPR: 31.63 (+0.44), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Is 2015 The Year For Rising Interest Rates?
Matt Tucker, CFA - Seeking Alpha - Thu Jan 15, 9:50AM CST
As I discussed in a previous Blog post, interest rates defied expectations by continuing to decline in 2014. As we enter 2015, many investors are asking the same question: Will 2015 finally be the year for rising rates? At the beginning of each new...
SCHZ: 52.63 (-0.01), BOND: 109.14 (-0.10), VBND: 50.07 (-0.09), FBND: 50.52 (-0.06), IUSB: 101.13 (-0.22), SAGG: 32.96 (unch), GBF: 115.03 (-0.39), TAPR: 31.63 (+0.44), AGG: 110.76 (-0.13), BND: 82.80 (-0.19), LAG: 58.58 (-0.10), PLW: 33.20 (-0.21), GOVT: 25.33 (-0.06)
The Last Nail?
Joseph Calhoun - Seeking Alpha - Wed Jan 14, 3:40AM CST
By Jeffrey P. Snider The inflection points of the past year and a half or so have become waypoints by which to mark the progress toward seemingly darker days ahead. In many respects, as I tried to express earlier , this is nothing new not just in...
TAPR: 31.63 (+0.44), EU: 20.54 (-0.08), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
The Fed's $3.5T QE Purchases Have Generated $469B For The U.S. Treasury And Become One Of The Largest Sources Of Government Revenue
Mark J. Perry - Seeking Alpha - Tue Jan 13, 6:23AM CST
(click to enlarge) The Federal Reserve just released its annual income statement for 2014 , including details on its annual distribution of "residual earnings" to the US Treasury. Last year the Fed earned net income of $101.5 billion,...
TAPR: 31.63 (+0.44), VMBS: 53.15 (-0.09), MBG: 27.29 (+0.01), MBB: 109.88 (+0.03), GNMA: 50.34 (-0.26), AGZ: 114.28 (+0.08), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
