bonds

The pension costs of states and municipalities in years hence are often stated in a calculation of future liabilities. For instance, the future obligations of state and municipal pension funds are calculated (in frequently cited studies) at…

Jeff Gundlach, a well known bond manager and DoubleLine Capital CEO, was on CNBC today talking about munis and high yield, two bond asset classes that have been moving in different directions of late. He was cautious on both classes saying…

The Absolute Return Letter, March 2011 By Niels Jensen “Experience is the name everyone gives to their mistakes” Oscar Wilde A remarkable month Two remarkable events unfolded during the month of February. One cleared…

Frederick J. Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession  (McGraw-Hill, 2009). Meredith Whitney has kicked up a storm with her 600-page,…

You have to watch this video to believe it. The speculation in the commodities market is well out of hand. Cotton futures are at a record high on speculation that demand in China will continue to increase, as China is the world’s largest…

By Win Thin Portugal remains in the market spotlight as its 10-year yield remains above 7% for the 10th straight day. Furthermore, today Portugal’s 5-year yield broke above 7% for the first time and continues the pattern that we saw with…

Here's more from the CNBC session with Kyle Bass, Managing Partner of Hayman Capital Management. David Faber introduced the topic as a discussion about tail risk and the "end of the world" trade. Bass took exception to that…

Kyle Bass doesn't believe that the bloodletting in the muni market we have seen so far is enough to warrant taking on the increased credit risk that municipal bonds now have. Bass, who is a principal at the hedge fund Hayman Capital…

By Win Thin There is no real news behind the recent underperformance of Portugal bonds, as it appears that markets are simply getting more nervous as the country’s 10-year yields stay above 7% for the fifth straight day today and for 10 of…

Alice Schroeder, a former Wall Street analyst and the author of the only approved biography of Warren Buffet, has Meredith Whitney's back. She says the macro view that Whitney presents on U.S. states and municipalities is largely correct.…