by Derek Hernquist | Apr 15, 2022 | Blog, Bonds, Macro Updates
Flashing back a year, when bonds felt a bit more alive than dead. Originally posted in our Content Hub last March but the concepts remain important… Rates Are Moving Interest rates – just look at what the yield (the interest rate) of 10-year...
by John Luke Tyner | Apr 8, 2022 | Blog, Bonds
* Bonds… The Rough Stretch Continues: The Bloomberg US Aggregate Index continues the largest drawdown in its history. Since August 6th, 2020 – the end of the most recent bull market in bonds – the index has declined by -9.2%. Even after the drawdown,...
by John Luke Tyner | Mar 29, 2022 | Blog, Bonds, Macro Updates
The spread between the 10-year Treasury and the 2-year Treasury has compressed materially over the first three months of 2022 (~80bps of tightening), and inverted yesterday for a brief moment. The 10/2 spread is currently sitting at 5bps this morning vs. 80bps on...
by John Luke Tyner | Mar 24, 2022 | Blog, Bonds
* Bonds… A Rough Stretch: The Bloomberg Global Aggregate Index, a benchmark for government and corporate debt, has fallen 11% from a high in early 2021. That’s the biggest decline from a peak in data stretching back to 1990, surpassing a 10.8% drawdown during the...
by John Luke Tyner | Feb 18, 2022 | Blog, Bonds, Macro Updates
Current Rates & the Curve Macro influences like the Russia/ Ukraine news are likely temporary and the major influence over yields remains central bank tightening. That is the key to watch beyond the short term, and the bottom line is that the trend in...
by John Luke Tyner | Feb 10, 2022 | Blog, Bonds
From a risk-premia perspective, equities and high yield both provide exposure to corporate earnings, albeit in a different manner. While equity is a purer exposure to corporate profits, high yield provides exposure to default risk. Source: Cornerstone Macro. As of...
