Today’s chart highlights where markets sit in the context of recent volatility, but very distant memories. The focus is High Yield Credit.
The attached chart shows the yield on the US 10yr outright over the last 20 years while also putting the relative “steepness” of the US Treasury curve in perspective.
Emerging Money Daily Audio Call June 27 – As we head into the European close we are seeing some of the rally off the floor in risk hit profit taking.
Rates higher as we wait for Fed minutes. Clearly the short end of the US curve is more fearful of the Fed than the long end.
The European Central Bank (ECB) exceeded expectations (so rare in life) with their monthly 60 billion euro asset purchasing until Sept 2016 and an open ended loaded bazooka in their pocket.
Tensions elevated yesterday when President Obama held a press conference late yesterday and announced additional sanctions against Russia.
Emerging Money Daily Audio Call Preview July 10 – as we settlement into mid-day in the U.S. investors have come to realize two; the events in Portugal Espirito Santo are largely one off and largely the result of an institution with significant cross holdings but the positioning is what this is about.
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- 2 confirmed dead after heavy rain slashes C. China