Speculators are betting heavily against the price of 10-year U.S. Treasuries. It's the second-largest short position since the CFTC began keeping records in 1992. History tells us this type of extreme positioning means bond prices are headed higher...
If the Federal Reserve is ending rate hikes, that means we’re reaching peak interest rates. And if you’re a bond investor, that’s a huge deal… because, if the coupon payment on sovereign debt isn’t going higher, soon you won’t be able to lock in today’s high yield.
Our latest addition to the Porter & Co. Distressed Investing portfolio is a bond that is secured by the assets of the largest owner of radio stations in the United States. It’s trading at a 17% discount to its $1,000 face value.
America is not yet lost. But we are very close to the complete collapse of not only our financial system, but our entire way of life.
In light of the past week’s extraordinary market events, we’re releasing this “state of the markets” briefing.
In today's special edition of Something You Don't Know, you'll find an important briefing from credit analyst and author Martin Fridson, who leads Porter & Co.’s Distressed Investing team.
In many ways, the 2020s inflation scenario matches that of the 1970s.
One of many casualties of the coming corporate debt implosion.
After the 2008 Financial Crisis, lawmakers beefed up banking regulations and cracked down on the irresponsible lending standards that inflated the housing bubble. But trying to regulate away the next crisis is like playing Whac-A-Mole: The next crisis is going to pop up in a brand-new hole.