The Street: Who’s Propping Up the U.S. Treasury Market?
Jeff Nielsen’s conspiracy laden report where he claims the Fed is illegally counterfeiting money to prop up the treasury market. Business Insider:
Why Treasury Yields aren’t Higher Despite Record Deficits
Joe Weisenthal’s blistering retort which is summed up here: So you don’t need evil Bernanke in the back room printing up dollars. It’s the dollars that the government is spending that match the Treasury issuance. Mystery solved.
MorningStar: The Top Worry to Come Out of the MorningStar Investors Conference? Treasuries.
Accepting what will almost certainly be a negative real return during the next decade just didn’t make sense to most speakers at the conference. Franklin Templeton’s Michael Hasenstab might have said it best when he described Treasuries as a risk-free asset no more.
FT: Treasuries are the New Gold
US Treasury securities (and other high-quality debt) became zero-yielding, meaning these sorts of bonds began to rank pari passu with gold as a store of value.
Learn Bonds: High Yield Bonds: Fixed Income or Equity?
Why they take issue with the consensus that high yield is a bond allocation. Bond Squawk: Copper Prices May Signal Lower Bond Yields – If copper either continues to decline or maintains its current level and the correlation holds to its historical norm, then inflation expectations should decline with a drop in U.S. Treasury nominal yields. In other words, higher quality bonds could trade even higher.
NY Times: Local Taxpayers are Getting Stuck with Bond Debt
Data from Thomson Reuters suggests that local taxpayers are backing so-called enterprise debt at five times the rate they did 10 years ago. Surprised local taxpayers from Stockton, Calif., to Scranton, Pa., are finding themselves obligated for parking garages, hockey arenas and other enterprises that can no longer pay their debts.
Blackrock: What Should I do with My Money?
Beware the Risks in Risk-Free. Modestly Overweight Equities. Munis …
