30-Year Treasury Bonds have now lost almost half their value over the last 5 years 📉
Source: Barchart
⚠️Japanese insurers' unrealized LOSSES are HUGE: Biggest 📷 insurers’ paper losses on their domestic bond holdings hit a record ¥8.5 TRILLION ($60B) in Q1. Nippon Life, the largest 📷 👇
Source: @GlobalMktObserv
Love it...
yes indeed at lots of cash in money market fund but the most important number is on the lower chart. It is a secular low relative to total assets Source: i3 invest
BREAKING 🚨: United States Treasury - THEY DID IT AGAIN! Japan 2.0 ???
U.S. Treasury just bought back another $10 Billion of its own debt, matching the largest Treasury buyback in history (and that was from last week)! Source: Barchart
French-Italian 10y spread dropped below 25 bp this morning.
It was 115 bp at the start of last year… En route to zero? Source: Stephane Deo on X, Eleva Capital, Bloomberg
Apollo’s take on the treasury market and its implications:
👉 Over the past 12 months, roughly half of all fixed income product coming to the market has been Treasuries, see chart below. 👉 This is not healthy. Half of credit issued in the economy should not be going to the government. ➡️ The consequence is that investors need to allocate more and more dollars to finance the government rather than financing growth in the economy through loans to firms and consumers. Source: Peter Mallouk
Japan's 30-year government bond yield has risen sharply in recent months and is now 3%.
That's the same yield level as Germany, but German government debt is 60% versus Japan's 240%. Japanese yields are still way too low given Japan's astronomically high level of government debt. Source: Robin Brooks @robin_j_brooks on X
$TLT just saw a weekly inflow of $1.8 Billion, the highest inflow among all ETFs 🚨
Source: Bloomberg, Barchart
