Sovereign and credit markets: yield curves, auctions, duration risk, spreads and the cost of money.
143 report(s) in the archive
Crude fell further despite new sanctions meant to curb Iranian supply, while global bond markets stabilized as investors weighed the sanctions alongside U.S. Treasury buybacks.
Oil prices fell despite new U.S. sanctions on Iran, a divergence that shows traders are not pricing in a near-term supply hit, while bond markets stabilized on the same news.
Cash parked in money-market funds now yields about 3.5%, the same rate as inflation, leaving savers with a real return of zero.
A record $8.4 trillion is held in money-market funds paying roughly 3.5%, a yield that just offsets inflation and leaves investors with no real return.
Broadcom's credit risk measures rose and Nebius fell 4% as a $5 billion convertible bond settled, dragging down Datadog and Cloudflare in the same session.
Broadcom's credit risk measures rose alongside a decline in Nebius, Datadog and Cloudflare shares as a $5 billion Nebius convertible bond settlement worked through the market on August 24.
Treasury Secretary Scott Bessent's push on the $1 trillion bond market has not lowered yields, and investors are instead bidding up scarce assets like gold and bitcoin.
Gold and bitcoin gained as Treasury yields failed to fall despite Bessent's efforts, pushing investors toward assets seen as scarce.
Morgan Stanley says a post-World War II shift in markets could push yields higher still, while Wolfe warns that could squeeze AI spending.
Morgan Stanley says bond yields could keep climbing as markets undergo a shift not seen since World War II, and Wolfe warns rising yields may pressure AI spending.
Dalio says investors should own 'a bit of Bitcoin' as a hedge against U.S. debt risk, even as he still favors gold as the bigger hedge.
Bitcoin held above $77,000 after a 21% weekly rally, as Treasury Secretary Bessent's $4 billion bond buyback failed to bring yields down.
SoftBank's planned bond sale would be its largest ever; Alibaba is raising through a share placement rather than debt.
SoftBank is planning a record $6.3 billion bond sale and Alibaba is raising $10 billion via share placement, both citing accelerating AI spending as the reason.
JPMorgan has cast doubt on Treasury Secretary Bessent's bond strategy, and critics say a buyback push is backfiring on borrowing costs.
J.P. Morgan analysts have publicly questioned the Treasury's approach to managing bond issuance, adding to concern that the same pressures are pushing mortgage rates higher.
The concentration comes as U.S. national debt crossed $40 trillion in August, intensifying scrutiny of Treasury market structure.
Academy Securities strategist Peter Tchir noted the Federal Reserve owns more than 50% of all Treasury bonds maturing 10 to 15 years from now, a concentration highlighted as U.S. debt passed the $40 trillion mark.
With Nvidia due to report and Jackson Hole on the calendar, rates and mega-cap tech risk are both back in focus for a market that has ridden the chip maker's results before.
Nvidia reports earnings Wednesday in what MarketWatch calls a test for a broad universe of companies tied to the AI theme, with bond yields also back in focus ahead of Jackson Hole.
The long bond now out-yields dividend-paying equities by 2.2 percentage points, a gap not seen in nearly two decades.
The 30-year Treasury bond's yield now exceeds the average dividend stock yield by 2.2 percentage points, the widest such gap in 19 years.
Jamie Dimon's warning that margin debt is the highest it has ever been lands just as Treasury yields climb and stocks trade near record levels.
JPMorgan CEO Jamie Dimon warned that margin debt — money investors borrow to buy stocks — is at its highest level ever, a caution flag as Treasury yields rise and the S&P 500 trades near an all-time high.
Scott Bessent's Treasury has intervened directly in the bond market, leaving incoming Fed Chair Kevin Warsh with fewer options as the FOMC weighs its next move.
The U.S. Treasury's direct intervention in the bond market complicates Fed Chair Kevin Warsh's policy options ahead of upcoming FOMC decisions.
The swing shows how directly the company's earnings now move with Bitcoin's price after its aggressive treasury strategy.
Strategy reported a swing from a $13 billion Bitcoin-related loss to a $1.4 billion profit as Bitcoin's price rallied.
The greenback weakened even as bond yields and oil held elevated, an unusual combination that points to doubts about US fiscal footing.
The dollar wobbled after investors balked at the US Treasury's efforts to shore up markets, even as Asian shares closed the week on a downbeat note.
The stock's drop to $21.22 comes as rising bond yields keep pressure on dividend-paying, rate-sensitive sectors like utilities.
CMS Energy shares hit a 52-week low of $21.22, extending a decline in utility stocks that tend to suffer when bond yields rise.
Both metals opened higher on August 20, 2026, drawing support from the same Treasury announcement that failed to hold down bond yields.
Gold and silver both rallied on August 20, 2026, as Treasury's expanded debt buyback plan and newly released FOMC minutes pushed investors toward precious metals.
Treasury Secretary Scott Bessent's debt-buyback announcement was meant to calm the bond market, but yields climbed anyway a day later.
U.S. Treasury yields resumed their climb on August 20, 2026, less than a day after Bessent unveiled a debt-buyback plan intended to steady the market.
The August 20 session split: bond-sensitive tech gave ground while bitcoin-linked shares rallied and energy-land owner LandBridge hit a record.
The Nasdaq fell in the August 20 session as a rally in US Treasuries — which had been pushing yields down — ran out of steam, while crypto-linked equities climbed with bitcoin.
The milestone arrived alongside the record of the Federal Reserve's last policy meeting, putting fiscal supply and rate policy in front of bond buyers at once.
US government debt crossed $40 trillion on the same day the Federal Reserve published the minutes of its most recent meeting, a combination that puts the size of Treasury issuance and the path of interest rates in the same conversation.