The Corporate Yield Curve Has Just Inverted

Zero Hedge -

Zero Hedge—Just days after we first showed that the world's "Most Systemically Important Banks", or G-SIFIs, are tumbling even as US stocks trade just shy of all time highs, prompting Ian Hartnett to issue his first "black swan" alert since 2009... ... Nedbank analysts Neels Heyneke and Mehul Dahya picked up on this topic, and in the latest note write that with the market-weighted cap index of the FSB’s G-SIFI’s starkly decoupling from the S&P 500 and the Nasdaq since the beginning of 2018, and...

"The Global Bond Curve Just Inverted": Why JPM Thinks A Market Crash May Be Imminent. At the beginning of April, JPMorgan's Nikolaos Panigirtzoglou pointed out something unexpected: in a time when everyone was stressing out over the upcoming inversion in the Treasury yield curve, the JPM analyst showed that the forward curve for the 1-month US OIS rate, a proxy for the Fed policy rate, had already inverted after the two-year forward point. In other words, while cash instruments had yet to officially invert, the market had already priced this move in. One way of visualizing this...