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  • Junk Bond Market Freeze To End With First HY Bond Sale In 2 Months

    One month ago we reported that the junk bond market had effectively frozen as a result of surging spreads, or as the FT put it "ground to a halt", because for the first time since November 2008, not a single high-yield bond had priced in the market in the past 30 days. Today, the Wall Street Journal picked up on this, reporting that "December was the first month since 2008 without a junk-bond sale." In fact, the market had gone for a whopping 40 days without a sale, the longest stretch in data...

    Zero Hedge
  • New Year, new stock market bloodbath: Stocks plunge after weak data out of China

    US index futures are tumbling, following global stocks lower after manufacturing data out of China signalled a slowdown. The S&P 500 was down 6.2% in 2018, booking its worst year since the financial crisis and worst December since the Great Depression.  Read more at Markets Insider. US stocks look set to tumble after soft data from China cast a somber mood on global markets on the first trading day of the New Year.   In China, the Caixin/Markit Manufacturing Purchasing Managers' Index (PMI)...

    Business Insider
  • The Bond Market Comes to Its Senses

    Investors are wising up to the bubble in risky corporate bonds. But it may be too late for companies that took on more debt than they can handle.

    www.nytimes.com