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Distortions in the index-linked market have created the most compelling relative-value opportunity we have ever seen. The ...

When talking about the right or left in Latin America we need to make an important differentiation between what Latinos define as right or left versus Europeans. This is because, in Latam, the “right ...

One of the many major economic events so far this quarter has been the move in France government yields. This is best ...

Paramount Skydance’s (PSKY) recent $110 billion acquisition of Warner Bros. Discovery (WBD) was one of the largest corporate ...

Take two bonds from one issuer, with identical seniority, rating, and credit risk. Yet the credit spread, the portion of the yield above the risk-free rate that compensates you for taking that risk, ...

At around 150 basis points over Bunds, French ten-year government bonds look tempting. The spread is exceptionally wide by France’s historical standards. For investors accustomed to treating France as ...

Anyone who spent too much time on YouTube in the early 2010s will probably remember the Honey Badger. The Honey Badger is part of the Mustelidae family which includes Wolverines, Otters and, you ...

Across much of the developed world, governments are spending an increasing share of their tax revenues servicing debt. Source: Federal Reserve Economic Data The era when debt could rise indefinitely ...

The bond market has taken control from Warsh and Bessent, and in some ways is now testing or even tormenting them. Yields are higher; they want them lower. The curve is showing excellent tactics.

For those who follow bank returns for a living, Japan’s push toward low-to-mid-teen RoE/RoTE (return on equity/return on tangible equity) over the medium term is one of the most striking re-ratings in ...

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future ...