The T-Report: Where Did All the Volume Go?
It is SLOW! Yesterday seemed deadly quiet, and it was. HYG and JNK both traded about ½ their normal volume. According to TRACE, both high yield and investment grade had very low volumes. Not as...
View ArticleThe T-Report: Worst Volume Day for CDS Ever
Zero Volume The IG CDX Indices had their lowest volume of the year yesterday as far as I can tell. Only $2.5 billion of IG Indices traded, and IG20 barely topped $2 billion. That used to be a couple of...
View ArticleTFMkts: A Ray of Hope in High Yield?
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View ArticleTFMkts Fixed Income ETF Model Portfolios for October 28, 2013 – Pre-FOMC...
Signs that the “froth” is returning We are seeing some signs that “froth” is returning to the market. It isn’t alarming, but it is concerning. HYS owns 14% of its risk by selling HY20 CDS indices. Not...
View ArticleThe T-Report: If This Is Deflation, Where Are All The Minus Signs?
“+” for Positive “-” for Negative Lagarde is the latest prominent economist/central banker/lawyer in a cushy job to come out worrying about “deflation”. CPI just came in 1.5% YOY and the “more stable”...
View ArticleTFMkts Fixed Income ETF Model Portfolios for January 16, 2013
Presentation Follow-Up After yesterday’s presentation which you can find here or at Minyanville, we are making some changes to our model portfolios. The drivers are our view that rates are close to the...
View ArticleThe T-Report: Добрий День and High Yield Spreads
Добрий День I have not written much about the situation in Ukraine. I have avoided it, because I didn’t know very much (which doesn’t usually stop me) and I have some strong biases (my family is from...
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The T-Report: What’s For Lunch?
Volumes and Volatility I was on a trading floor yesterday and they half-jokingly said that the big question of the day was “what’s for lunch?” S&P 500 in 2014 T-Report Subscription - To Continue...
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TFMkts Fixed Income ETF Overview & Outlook: The What’s For Lunch? Edition
Volumes and Volatility I was on a trading floor yesterday and they half-jokingly said that the big question of the day was “what’s for lunch?” S&P 500 in 2014 To Continue Reading Please Sign In...
View ArticleThe T-Report: Extreme Complacency, Data, BKLN & CLO’s, and more
Complacency There must be a German word for extreme complacency. They have some of the best words out there (schadenfreude is an all-time favorite). But until I can find a better word, I will just...
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