junk bonds

Callum Thomas

I spent a lot of time in the 2017 End of Year Special Edition looking back across the year, covering some of my best charts and calls (and some of the worst!). But this article provides a look at the most important part of that report. Show More

Roger Montgomery, Chief Investment Officer at Montgomery Investment Management, is worried about rising default levels in the US. “I’m very concerned that we’re about to see some sort of credit event,” he said in a recent interview. “Between now and 2020… we’re going to see in the US alone, something... Show More

Jonathan Rochford

Hyman Minsky explained that it is the availability of credit that drives business cycles. If businesses are able to easily borrow they will expand, if the availability of credit dries up they will contract. The US high yield market, via the Merrill Lynch US High Yield Master II, is the... Show More

Livewire News

Bloomberg has released its “2015: The year in Money” report. The 10 highlights were 1) Apple hit a record $775B market cap. 2) Netflix was the best performer in the S&P500 (Up 143%) 3) Sales of investment grade corporate bonds are at an all time high. 4) The junk bond... Show More

A recent spate of credit downgrades in the US has thrust high yield credit into the spotlight. The Fed will be acutely aware of the ructions taking place in credit markets with a number of high profile credit funds freezing investor redemptions and junk bonds providing negative returns for the... Show More

Livewire News

“The junk-bond default rate rose to 2.6% from 2.1% this year and will likely jump to 4.6% in 2016, breaching the 30-year average of 3.8% for the first time since 2009, said New York University Finance Professor Edward Altman, inventor of the most commonly used default-prediction formula, who has been... Show More