Columnist @BOpinion. All bonds, all the time. Northwestern grad. CFA Charterholder. Reach out: email@example.com
*S&P DOWNGRADES CIRQUE DU SOLEIL TO 'D' ON MISSED INTEREST PAYMENT It was rated B- on March 27.
Woah. Bank of America: "The outcome of the People vs COVID-19 determines the size of 10Y UST rally." People = 0% to 0.25% COVID-19 = -0.56% to 0%
*EXXONMOBIL LOSES AAA RATING FROM MOODY'S IN CUT TO Aa1, OUTLOOK REMAINS NEGATIVE dang oil
Still confused about why the repo market is freaking out, and whether you should care? It’s about BUDGET DEFICITS. Thread!
Today Germany sold 10-year bunds with NO COUPON. Yield was -0.26%. I'm old enough to remember when zero-coupon bonds were sold at a deep discount to par, not at 103 cents on the dollar.
As far as the fiscal health of U.S. states is concerned, there’s Connecticut, Illinois and New Jersey, and then there’s the rest of the country. My column looks at what might be the last chance to get these pension systems back on a sustainable path. /1