Recession

Global Debt Sales Hit A Record $6.6 Trillion In 2016

Courtesy of record low rates throughout most of 2016, overall debt issuance in the year rose to just over $6.6 trillion, breaking the previous annual record set in 2006. Corporations accounted for more than half of the $6.6 trillion, while the rest included sovereign bonds sold through syndication, US and international agencies, mortgage-backed securities and covered bonds.

David Collum: We've Got A Recession Coming

"We've got a recession coming, it is going to be a bad one...This is going to unwind. It has to unwind. This is like a person who weighs 850 pounds -- they're not going to make it into their 90s, right? "

How To Invest In The New World Order

The boom turns to bust as the Eurodollar market breaks. If the cycle gets out of hand, as it did from 2008 onwards, banking solvency is not only limited to local emerging market banks, but to the international banking community at large. This is exactly where we are at now and if history repeats itself, which we believe it will, a new financial crisis is brewing just under the surface as the dollar moves into its second leg.

The Bank of Japan Was The Top Buyer Of Japanese Stocks In 2016

The Bank of Japan is set to become the biggest buyer of exchange-traded funds in 2016 for the second straight year. According to data through Thursday, the value of the BOJ's ETF purchases this year has topped 4.3 trillion yen, up 40% from 2015. As a result, the BOJ "will become the largest buyer of ETFs this year," according to Mizuho Securities.

Goldman Sachs' 2016 Review (Crossword-Style)

The year began with a perfect storm of worries that had become all too familiar already in 2015. Oil prices plunged and fears of faltering growth and a sharp depreciation of China’s currency escalated, driving disruptive sell-offs in credit and other risk assets. Confidence in global growth faltered, particularly after an anemic US GDP report for Q1. But oh, how the world has changed...

The Scariest Forecast For Treasury Bulls

Assuming Deutsche Bank is correct, the result would be the scariest forecast bond bulls have seen in years: a 10-Year TSY whose yield fades all gains attained during the past decade, in the span of just two short years, hitting 4.5% in early 2019. The adverse implications from such a fast, steep move on all asset classes, not just bonds, would be devastating.