The G-20 meeting commences today. Will the outcome be a surprise? I guess it depends how surprise is defined. Countless people have offered expert opinions on what may unfold. We will ...

The bullish in the debt market is at a near unanimity. Most measures are at or near record proportions. One measure of risk relative to the compensation investors receive to hold longer dated obligations is at a ...

As noted many times the markets are suggesting the overnight rate will be lowered 0.75% by year end, a very aggressive 33% reduction. Some were expecting a 0.50% drop at the July meeting only to have their hopes dashed yesterday when one of the...

Yesterday a veteran market professional commented “experience and common sense seem to be useless commodities in the world today.” I cannot agree more with this statement especially regarding the amount of negative interest rate debt outstanding…$12.5 trillion. The amount of negative real interest rate debt...

Natixis SA, the large French bank, plunged almost 14% yesterday after MorningStar cited concerns about the “liquidity and appropriateness” of some corporate bond holdings in a fund owned by the Bank. Natixis’s woes added to the rising liquidity fears following the ...

Last week I wrote it is human nature to extrapolate the current into infinity. What we think we can foresee is often nothing more than what we have recently seen. “More of the same” is the sensible default prediction in politics, baseball and...

Will this week be of great significance? As widely known the Fed is holding its June meeting. The prevailing market narrative is the economy is edging towards a considerable slowdown and the market is suggesting ...