Risky Can Be Safer Than Risk-Free
Perhaps the greatest of all the financial myths out there is that investing in U.S. Treasuries is a risk-free endeavor… The truth is that a U.S. Treasury security with a 10-year maturity is anything but risk-free.
treasuries
The Quiet Decline of a Discount Broker
We know this company as a popular discount broker but as it has moved into retail banking it is finding itself slowly slipping under water.
We Don’t Need Your Debt, America
The recent surge in foreign banks buying gold has occurred alongside a sharp decline in their purchases of U.S. Treasury debt. The result could ultimately lead to a “debt doom loop”.
Prepare for A Bond-Market Rally
Speculators are betting heavily against the price of 10-year U.S. Treasuries. It’s the second-largest short position since the CFTC began keeping records in 1992. History tells us this type of extreme positioning means bond prices are headed higher…
Portfolio Update: Four Deeply Distressed Industries to Watch
In our view, the distress ratio is likely to double or triple from its current level by late 2023 or early 2024. And that means a crop of new distressed opportunities will soon arise.
The Buy Signal No One Sees Coming
If the Federal Reserve is ending rate hikes, that means we’re reaching peak interest rates. And if you’re a bond investor, that’s a huge deal… because, if the coupon payment on sovereign debt isn’t going higher, soon you won’t be able to lock in today’s high yield.
“Quantitative Teasing”: Why QE Is Not Back to Save Your Portfolio (Yet)
The reality is that the Fed’s actions could have the near-opposite effect of QE. Instead of easing financial conditions and boosting asset prices, they’ll likely lead to further tightening and hasten the arrival of the impending credit crunch.
The SVB Crash Was Just The First Domino
In light of the past week’s extraordinary market events, we’re releasing this “state of the markets” briefing.
What to Watch After the SVB and Signature Bank Collapses
In today’s special edition of Something You Don’t Know, you’ll find an important briefing from credit analyst and author Martin Fridson, who leads Porter & Co.’s Distressed Investing team.
The Last Time This Happened, the Stock Market Slumped for 16 Years
In many ways, the 2020s inflation scenario matches that of the 1970s.