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Global Tactical Asset Allocation Q3 Update: Fixed Income

Tyler Durden's picture




 

Following the release of its quarterly equity market update, Global Tactical Asset Allocation has released the must read Q3 debt update, which covers virtually every aspect of the fixed income space with more granularity than can be found in the best sellside research report. Since the imminent global insolvency is not about equities, and all about coupon and variable rate instruments, this could we be the most important update piece from Damien Cleusix this quarter. Your all in one compendium on fundamentals, technicals, and everything inbetween can be found inside.

From Damien Cleusix (contact)

Third Quarter 2011 GTAA Fixed Income

 

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Mon, 06/20/2011 - 22:47 | 1387606 wang
wang's picture

When time comes and the baby is thrown with the bath water we will be heavy buyers"

Mon, 06/20/2011 - 22:59 | 1387663 Robslob
Robslob's picture

Think the word you are looking for was "heavy bathers" because that is what it's going to take to get the filth out of the market and system in general...

Mon, 06/20/2011 - 23:08 | 1387675 Boston
Boston's picture

You had me at "US government bonds are not a bubble".

Mon, 06/20/2011 - 23:19 | 1387706 zorba THE GREEK
zorba THE GREEK's picture

 If banks will be buying more treasuries and foreign govs will be buying more to keep their

 currencies in line and the Fed keeps rolling over the present balance sheet to buy, that should

 allow the Fed to delay QE3 for a while.

Mon, 06/20/2011 - 23:30 | 1387731 Caviar Emptor
Caviar Emptor's picture

Uber tactical asset allocation strategy 2011? Allow me to simplify:

Bet Ponzi. 

Which, to make it simple, translates into more stimulus, monetary or otherwise. We'll also get more bailouts (even sovereign). And rates will be held one muon short of zero. 

But the vicious side effects will also be amplified. All of which says that only gold will maintain it's value against an increasingly worthless buck and anything denominated in bucks. Look for a 20 oz bottle of soda to approach $5. 

Mon, 06/20/2011 - 23:38 | 1387767 slewie the pi-rat
slewie the pi-rat's picture

this report lacks optimism.

we are freaking doomed! 

i try to tell people:  you know all this fuking debt?  yeah.  well, it is growing so fast, if it ever stops we will run out of money to finance the debt!  and even if it doesn't stop, we'll run out of money to finance the debt. 

people think that is extreme...

this guy nails it!  inspector cleusix:  the pink panther of fixed income!

Tue, 06/21/2011 - 00:22 | 1387841 alagon
alagon's picture

Transitory fixed income.

Tue, 06/21/2011 - 02:08 | 1388043 mcguire
mcguire's picture

the world is starving for yield... so much so, that it will eat the equivalent of plastic rice (synthetic junk bonds) to get it.. 

Tue, 06/21/2011 - 04:31 | 1388209 luciusfargo
luciusfargo's picture

Granularity really is an excellent word. Also, great post, thanks!

Tue, 06/21/2011 - 06:42 | 1388274 Yen Cross
Yen Cross's picture

  I don't need "guidance" for q-3.  Ducks like granular FEED!

Tue, 06/21/2011 - 12:24 | 1389253 JW n FL
JW n FL's picture

+++++++++++++++++++++++++++++++++++++++++++++++++

Tue, 06/21/2011 - 12:28 | 1389256 JW n FL
JW n FL's picture

&..

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You should always post James Grant twice! He is fantastic!

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