6 hours ago

Weakening yuan vs USD stalls Chinese bond FDI

International ownership of Chinese bonds declined slightly in March to the equivalent of $313 billion. This was the first large drop in foreign investors' positions since February 2019 coming at a time when the yuan weakened more than 1% against the dollar. This spread has narrowed to about 1.6 percentage points, after topping 2.2 percentage points throughout the second half of last year, data from FactSet and brokerage Tullett Prebon shows.

#Bonds

3 days ago

JPMorgan Chase sells a record $13 billion in bonds

The bank decided to take advantage of some of the cheapest borrowing costs in years to boost its capital after the Federal Reserve let pandemic relief measures lapse. Including todayโ€™s sale, JPMorgan has raised $22 billion in the U.S. dollar investment-grade bond market this year, more than any other major U.S. bank.

#Bonds

4 days ago

This is the biggest 3-day drop in US 10Y Treasury yields since June as shorts are covering.

Despite surging retail sales and strong US jobs data, US 10 year yields are collapsing as fundamentals-oriented global macro hedge funds and technically oriented CTAs have been covering their short Treasury positions.

#Bonds
10 Year US Treasury yields

4 days ago

US 10-year real yield vs. Gold: is gold alright?

Gold seems to have dropped a little too much compared to real yields. 

#Bonds
US 10-year real yield vs. Gold: is gold alright?

6 days ago

Credit crash: China Huarrong's bonds trading at 65 cents on the dollar

"Huarong is a $22 billion curve and as a distressed situation it dwarfs anything that we have seen in the Asia credit market before."

#Bonds
Credit crash: China Huarrong's bonds trading at 65 cents on the dollar
bg_nwsletter