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...This means that if a bank lends cash to a hedge fund in exchange for temporary ownership of a Treasury bond, and the value of the bond decreases just as the hedge fund defaults on the trade, the bank loses...
...Turkish sovereign dollar bonds maturing in March 2029 are at present trading with a yield of about 7.6 per cent....
...A record amount of money has flooded into US corporate bond markets this year, as investors rush to lock in the highest yields in years ahead of an anticipated series of interest rate cuts by the Federal...
...Supported by the world’s largest economy, the currency is a magnet for nearly 60 per cent of all central banks’ foreign exchange reserves....
...offer pledges to buy back bonds if they fall below a certain price, which are commonly used in Argentine bond auctions....
...the mood of the whole global risk market”, according to Deutsche Bank strategist Jim Reid....
...So January’s usual flurry of bank-bond sales (following 4Q results) has been more of a blizzard this year....
...The mechanics of the NAIC’s rule change (as described by Barclays, Bank of America, regulators, industry groups and various other sources) are . . . not especially simple....
...secure bank credit that could then back a surety bond....
...“We see the bond-equity correlation shifting back to negative this year,” said George Saravelos, global head of FX research at Deutsche Bank....
...Egypt is reforming in part to meet conditions for relief from champions of the consensus, including the IMF and World Bank....
...The flipside is an explosion of lending by bond funds and other investment vehicles that are often collectively called “shadow banks”....
...Passive QT seems to provide a signal of the central bank’s commitment to tighter monetary policy, thereby increasing bond yields at the short end of the yield curve....
...Bond investors are warming to a host of countries locked out of international markets for the past two years, raising hopes that a debt crisis in the developing world may be starting to ease....
...Market participants added that a fresh deluge of dollar-denominated bond issuance has also acted as a temporary brake on US spreads....
...It is seen to be maxed out, with central banks owning about a third of their government bond markets....
...According to Michael Youngworth, a convertible bond strategist at Bank of America, a slower than expected fall in inflation is also encouraging companies to issue debt sooner rather than later....
...Silicon Valley Bank became the largest bank failure since 2008 after it was caught in a downward spiral caused by deposit flight and losses on bond sales. Life insurers faced similar issues....
...Soak it in: Bank of America frequently updates this futile but oddly charming mosaic, showing the best-performing assets each year since the turn of the century....
...A surety bond serves like a bank letter of credit. It guarantees that a defendant can pay a legal judgment if appeals do not succeed....
...Update: Bank of America’s note on Allianz’s earnings has landed in FTAV’s inbox, and they make the same point as us, and predict Pimco will see inflows of €155bn over the next year as “fixed income is set...
...America’s regulators say new rules will help maintain the dominance of US Treasuries, and there are still weaknesses in regional banking a year after the failure of Silicon Valley Bank....
...A reversal of that status quo risked upsetting financial stability. But on Tuesday, after eight years in the negative, the Bank of Japan governor Kazuo Ueda pulled it off in smooth style....
...Citi, JPMorgan and Bank of America have all gotten in....
...There is also a possibility that bond issuance flees to places such as London or Texas....
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