1126 days ago
Airbnb on Tuesday announced a $2bn convertible deal, the biggest of the year so far, on the heels of Twitter, which announced a $1.25bn convertible bond issue on Monday and Spotify, which priced $1.3bn in notes last week. Beyond Meat increased the size of a convertible bond issue on Tuesday from $750m to $1bn. Source: Financial Times
1126 days ago
Federal bank chairman Powell suggested the fed will keep rates low which sent bonds yields rising and saw the 10-year up by 8pt. Such a move shouldn’t be unusual - very loose policy should be associated with high bond yields, due to high inflation expectations. But the point of note yesterday was that it was real yields, not inflation expectations, rising. That could be because markets think the Fed will get behind the curve and eventually have to tighten even more than if it did so gradually. Source: macromarketsdaily.com
1126 days ago
Bond yields on the long end keep extending beyond the short end amid inflation expectations and after Jay Powell's speech.
1127 days ago
The spread of Real 10-year Treasury yields vs. BBB rated credit is inching up
1127 days ago
Some interest rates in the U.S. repurchase agreement (repo) market turned negative overnight as traders stepped up bets that U.S. Treasuries yields would rise as macro data point to an improving economy. In the repo market, banks and Wall Street firms raise cash from investors to fund loans and trades by pledging a security as collateral. When the repo rate turns negative, the lender pays the bank or Wall Street firm to own the security.
