Bond markets retreat as U.S. Treasuries lead yield jump worldwide
The yield on 30-year Treasuries briefly pushed over 5% in Asia and the pressure seeped into other markets, with yields rising sharply in Australia, the UK and in the developing world.
Investments
Treasury-yield surge stokes fear of next big basis-trade unwind
It's bringing back memories of the basis-trade unwinds at the onset of the pandemic — when widespread deleveraging sparked blowups of the popular hedge fund strategy that sent bonds tumbling.
The world is finding a plausible alternative to Treasuries
In Germany, the 10-year bund at 2.66% reflects the prospect of a flood of bond issuance as the government ramps up defense spending.
Treasuries hold 4% line as jobs report, Powell speech loom large
The bid for havens also saw traders boosting bets on Fed interest-rate cuts, fully pricing in a quarter-point move by June.
Investment properties collateralize PennyMac’s $355.5 million MBS sale
The underlying prime mortgages have an average balance of $358,024, a weighted average (WA) original FICO score of 776, an original cumulative loan-to-value (LTV) ratio of 73.6%.
Bessent signals U.S. on debt-limit ‘warning track’ for May or June
The ceiling kicked back in at the start of the year, since when the Treasury has been using special accounting maneuvers to make good on all obligations on time.
Nomura markets chief to boost hiring as revenue jumps to record
For the first time in a decade, the metric also rose in the nine months to Dec. 31 across all segments — including equities, macro and spread products.
Janus Henderson starts ETF giving global access to U.S. CLOs
Interest in CLO ETFs, an asset class that's only been around since 2018, is picking up, with the number of funds doubling since August to a total of 24.
Five-year Treasuries are the go-to for Wall Street’s risk-averse
Leading up to President Donald Trump's April 2 deadline on levies, the options traders prefer to own exposure to US government debt due in five years.
U.S. fiscal strength seen weakening further, Moody’s says
A rise in U.S. Treasury yields from very low levels in 2020, has resulted in diminished debt affordability, with interest payments-to-revenue hitting about 30% by 2035.
Rithm sells largest ever bond backed by homeowners’ mortgage fees
The bonds are tied to rights to collect mortgage payments, known as mortgage servicing rights, and it's only the second such deal that's non-recourse.
U.S. bonds’ best gain this month comes as Fed cut bets mount
For bond investors who'd been piling into Treasuries over recent weeks, Wednesday's Fed policy announcement offered vindication.
Inflation and interest rate uncertainty add to securitized assets’ attraction
Portfolio managers should consider choosing CLOs and ABS over corporate credit and agency MBS over Treasuries in 2025, says asset manager Janus Henderson.
T-Bill supply pressure on U.S. repo rates seen encountering limit
Money-market funds with cash to invest are doing more repo — extending overnight credit to owners of Treasuries, causing the rates on the loans to decline.
Trump’s tariffs roil bank stocks, but lenders stay calm
Bankers' surveys of commercial clients have found that corporate decision-makers are less concerned about adverse tariff effects than nervous investors.
TCW and Threadneedle are eyeing complex mortgage bonds over CLOs
Now the structured mortgage securities are cheap enough that CLO investors are watching them more closely, according to strategists and investors.
Blackstone REIT pivots away from office with first new CLO in four years
Over 85% of the collateralized loan obligation's total dollar value will be comprised of apartment complexes and hospitality and industrial properties.
Nuveen’s Trivedi on deploying funds that support CLO equity
The giant asset manager is launching new CLO funds that generate higher returns without significantly increasing risk–by focusing on the less-favored tiers of CLO stacks.
By
John Hintze
Treasury market erases gains as Fed’s Powell praises economy
The bond market in the past month has been caught between signs that US economic growth is slowing.
Bessent highlights Trump’s Fed silence, rejects inflation worry
He also reiterated that he and Trump are focused on bringing down 10-year Treasury yields, rather than on the Fed's short-term benchmark rate.
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