Borrowing Costs

China Starts 2017 With Highest Number Of Corporate Defaults In History

China's default wave appears to have made landfall, and as Bloomberg reports overnight, China’s deleveraging push has racked up the most defaults on corporate bonds ever for a first quarter. "Seven companies have defaulted on a total of nine bonds onshore so far in 2017, versus 29 for all of last year."

Global Stocks, US Futures Rise On First Day Of Q2 As Trump-Xi Meeting Looms

After the best quarter for US stocks since 2015, global equities have started off Q2 on the right foot, despite caution about the upcoming meeting between President Trump and China's Xi Jinping later this week, and Fed Minutes which are expected to be more hawkish than the FOMC statement.

Global Stocks Slide, S&P Futures Tumble Below 50DMA As "Trump Trade" Collapses

Global stocks are lower across the board to start the week, as concerns about Trump's administration to pull off a material tax reform plan finally emerge, pressuring S&P futures some 20 points lower this morning, following European and Asian shares lower, while crude oil prices fall unable to find support in this weekend's OPEC meeting in Kuwait where a committee recommended to extend oil production cuts by another 6 months.

Is Bankruptcy For Illinois The Answer?

Could a formal bankruptcy proceeding for the State of Illinois be the answer to it’s fiscal crisis? If you think that’s out of the question, as many do, you’re wrong.

Tail-Risk Hedges Spike To Record High

While VIX declined last week, the cost of protecting against major market swings has spiked above its previous Brexit-vote-day peak, reaching a fresh all-time high.

Warning Signs

Like gasoline, all of these warnings are inert and, other than smelling really bad, are harmless... Well, that is until your cousin “Randy” shows up and decides to have a quick smoke.

Weekend Reading: Just Buy Everything

“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.– Henry Ford

3 Things: Fed Hike, Fed Late, Fed Miss

“The simple message is the economy is doing well. We have confidence in the robustness of the economy and its resilience to shocks.” – Janet Yellen, March 15, 2017.

Really?

Global Stocks Soar To Record Highs On "Dovish" Fed, Dutch Vote

World stock indexes surged to record highs on Thursday while the dollar traded close to a one-month low after the Federal Reserve hiked U.S. interest rates but signaled no pick-up in the pace of tightening, while the Dutch elections were broadly interpreted as a drop in support for Europe's anti-establishment powers.