Bond Investors Take Ever-Riskier Bets in Hunt for Returns
Bloomberg 2 hrs ago Jack Pitcher and Laura Benitez
(Bloomberg) Bond investors, emboldened by a recovering economy and a global vaccine rollout, are taking on more risk, sometimes a lot more risk.
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Insurers, pension systems and high-grade credit managers in the U.S. and Europe are buying bigger amounts of junk-rated debt to offset shrinking yields, forcing high-yield investors to jostle for allocations of BB rated bonds the safest and largest part of their class with 60% of the market. Some fund managers, used to having their pick of speculative-grade bonds, have seen their orders for new bonds cut in recent months, they said, declining to be identified because the information is private. One high-yield fund manager said his orders have been scaled back by as much as 15%.
Stocks Gain, Yields Pare Rise After Fed Stands Pat: Markets Wrap
Bloomberg 4 days ago Olivia Raimonde and Lu Wang
(Bloomberg) Stocks rose to record highs and yields on longer-maturity U.S. debt retreated from more than one-year highs after the Federal Reserve continued to project near-zero interest rates at least through 2023 despite rising inflation concerns.
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The yield on the benchmark 10-year note retreated from its highs of the day as Fed Chairman Jerome Powell reiterated that the central bank wants to see inflation moderately above 2% and said the recent move higher in yields wasn’t disorderly. The S&P 500 climbed to the highest level on record, led by the consumer discretionary, industrial and materials sectors. The Dow Jones Industrial Average also closed at an all-time high.
Stocks Gain, Yields Pare Rise After Fed Stands Pat: Markets Wrap
Bloomberg 4 days ago Olivia Raimonde and Lu Wang
(Bloomberg) Stocks rose to record highs and yields on longer-maturity U.S. debt retreated from more than one-year highs after the Federal Reserve continued to project near-zero interest rates at least through 2023 despite rising inflation concerns.
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The yield on the benchmark 10-year note retreated from its highs of the day as Fed Chairman Jerome Powell reiterated that the central bank wants to see inflation moderately above 2% and said the recent move higher in yields wasn’t disorderly. The S&P 500 climbed to the highest level on record, led by the consumer discretionary, industrial and materials sectors. The Dow Jones Industrial Average also closed at an all-time high.
Stocks Gain, Yields Pare Rise After Fed Stands Pat: Markets Wrap
Bloomberg 4 days ago Olivia Raimonde and Lu Wang
(Bloomberg) Stocks rose to record highs and yields on longer-maturity U.S. debt retreated from more than one-year highs after the Federal Reserve continued to project near-zero interest rates at least through 2023 despite rising inflation concerns.
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The yield on the benchmark 10-year note retreated from its highs of the day as Fed Chairman Jerome Powell reiterated that the central bank wants to see inflation moderately above 2% and said the recent move higher in yields wasn’t disorderly. The S&P 500 climbed to the highest level on record, led by the consumer discretionary, industrial and materials sectors. The Dow Jones Industrial Average also closed at an all-time high.
U.S. Stocks Edge Higher; Yield Spike Hits Tech
Bloomberg 3/15/2021 Vildana Hajric
(Bloomberg) U.S. stocks eked out a record, though rising Treasury yields continued to weigh on technology stocks. The dollar jumped.
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The S&P 500 closed higher amid rallies in financial and industrial shares as the rotation into value shares resumed. The Nasdaq 100 Index gauge slumped after accelerating vaccinations in the U.S. and the passage of the $1.9 trillion pandemic-relief bill sent Treasury yields past 1.64%. The Dow Jones Industrial Average added to its all-time high.
“There’s been a little more volatility than usual, particularly because there’s a number of crosscurrents both tailwinds and headwinds,” said Michael Reynolds, investment strategy officer at Glenmede.