Bonds Tumble Around the Globe as Fed Rate Odds Climb Past 50%
...“Bond yields are rising around the world in sympathy with Treasuries,” said Hajime Nagata, a debt money manager in Tokyo at Diam, which oversees $142.6 billion. “The market is reaffirming that the Fed will lift off in December.”
...Treasuries are driving borrowing cost higher
...Traders see a 58 percent chance the Fed will raise its benchmark by its Dec. 15-16 meeting, according to futures data compiled by Bloomberg.
Why Isn’t This Incredibly Bearish Bond Market Development Making the News?
...But what most people don’t realize is that the bond market is far more important and far larger than the stock market. The bond market is where companies, countries, and individuals go to borrow money. For every $1 worth of stock outstanding, there’s $2 worth of bonds.
Take the U.S. for example. The total value of every traded stock is $23 trillion. That’s a huge number, but it’s around half the value of all the U.S. bonds outstanding. Between corporate bonds, treasury bonds, mortgage bonds, and other varieties, there’s $40 trillion worth of bonds outstanding in the U.S. http://www.marketoracle.co.uk/Article53055.html
Capital Destruction Rages Beneath S&P 500 Tranquility
Short-term Treasury yields hit 5½-year high as strong ADP points to rate hike
Short-term Treasury yields hit 5½-year highs Wednesday after a strong private-sector employment report was taken by investors as an indication that the Federal Reserve is closer to raising interest rates in mid-December for the first time in nearly a decade.
...Fed chief Janet Yellen is due to speak about the economic outlook at 12:25 p.m. Eastern. Yellen, who is also due to testify before a congressional panel on Thursday,
...U.S. bond value falls by $162.5b Thursday, Europe's by $107.5b
...Bonds sold off on Thursday even as U.S. stocks declined, with the Standard & Poor’s 500 Index posting its biggest loss since Sept. 28,
...The benchmark U.S. 10-year note yield jumped 13 basis points on Thursday, the most since Feb. 6. It fell two basis points on Friday to 2.30 percent
...Germany’s 10-year bund yield surged 20 basis points on Thursday to 0.67 percent. The two-year yield climbed 13 basis points to minus 0.31 percent after dropping to minus 0.454 percent before the ECB decision, the lowest level since Bloomberg began compiling data in 1990.
“Distress” in US Corporate Debt Spikes to 2009 Level December 2, 2015 Investors bloodied as the Credit Bubble implodes at the bottom
Standard & Poor’s “distress ratio” for bonds, which started rising a year ago, reached 20.1% by the end of November, up from 19.1% in October. It was its worst level since September 2009.
It engulfed 228 companies at the end of November, with $180 billion of distressed debt, up from 225 companies in October with $166 billion of distressed debt, S&P Capital IQ reported.
...The oil-and-gas sector accounted for 37% of the total distressed debt and sported the second-highest sector distress ratio of 50.4%.
...The metals, mining, and steel sector has the second largest number of distressed issues and sports the highest sector distress ratio (72.4%),
...At the lowest end of the junk bond spectrum – rated CCC or lower – the bottom is now falling out. Yields are spiking, having more than doubled from 8% in June 2014 to 16.6% now, the highest since August 2009:
Guess What Happened The Last Time Junk Bonds Started Crashing Like This? Hint: Think 2008
...The extreme carnage that we are witnessing in the junk bond market right now is one of the clearest signals yet that a major U.S. stock market crash is imminent.
...On Tuesday, high yield bonds had their worst day in three months,
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