Straight from the Desk
Syz the moment
Live feeds, charts, breaking stories, all day long.
- All
- us
- Food for Thoughts
- equities
- Bonds
- technical analysis
- bitcoin
- sp500
- Stocks
- inflation
- China
- macro
- Federal Reserve
- investing
- Crypto
- ETF
- Central banks
- performance
- AI
- Rate
- gold
- Real Estate
- earnings
- markets
- debt
- Commodities
- Treasury
- tech
- yield
- nvidia
- Germany
- europe
- Japan
- bank
- nasdaq
- oil
- cpi
- warren-buffett
- useful
- Forex
- interest
- humor
- apple
- fed
- interest-rates
- market cap
- energy
- returns
- dollar
- hedge fund
- GDP
- quotes
- geopolitics
- magnificent-7
- valuations
- asset
- ECB
- finance
- BOJ
- crudeoil
- india
- sentiment
- Swiss
- highyield
- Volatility
- options
- recession
- semiconductor
- vix
- economy
- growth
- mortgage
- Money Market
- Positioning
- cash
- charts
- exports
- trading
- bubble
- ipo
- deficit
- price
- sales
- EM
- UK
- bearish
- tesla
- wages
- ESG
- EV
- Flows
- credit-card
- saudiarabia
- spending
- Turkey
- futures
- index
- meta
- revenue
- russia
- EUR
- assetmanagement
- bankruptcy
- cocoa
- profit
- supply
- unemployment
- watches
- consumers
- Brazil
- Election
- car
- chart
- credit-rating
- cryptocurrencies
- seasonality
- $nycb
- Asia
- FUNDS
- Renewable
- airlines
- currencies
- insider
- spx
- yen
- FUND
- africa
- amazon
- copper
- deflation
- investmentgrade
- manufacturing
- spy
- taiwan
- yuan
- Alternatives
- SMCI
- SuperBowl
- compounding
- concentration
- debt-ceiling
- france
- lvmh
- microsoft
- msci
- pricing-power
- private markets
- productivity
- sec
- smallcaps
- sustainable
- switzerland
- world-economy
- Focus
- charlie-munger
- chatgpt
- dowjones
- economic surprise
- fixed income
- greed
- halvings
- income
- liquidity
- luxury
- retirement
- russel2000
- silver
- tax
- world
- BOE
- EM Sovereign
- Granolas
- Industrial-production
- Market Outlook
- Nikkei
- TIPS
- ceo
- corporate
- cost-of-living
- dividend
- emerging-markets
- ethereum
- fashion
- gas
- greece
- jobs
- leadership
- lending
- monetarypolicy
- moneydebasement
- opec
- saudiaramco
- snb
- storytelling
- trump
- unicorn
- valentine's-day
- venture capital
- vietnam
- Beware
- CTAs
- Coinbase
- Convexity
- Crypto corner
- Deindustrialization
- GlobalAgg
- Italy
- Marketing
- Nestle
- Precious-Metals
- Rally
- SoftBank
- ToyotaMotor
- bankrupt
- behavior
- booking.com
- brics
- calls
- childbirth
- cisco
- climate
- coal
- cobalt
- cocacola
- construction
- counterparty-risk
- cta
- demographics
- design
- dragonyear
- elon musk
- eurozone
- fees
- financial-stress
- football
- golf
- hedgeye
- hungary
- imf
- intel
- international-women's-day
- job-cuts
- jpmorgan
- korea
- kpi
- lng
- marriage
- meetings
- mergers&acquisitions
- microstrategy
Long-Term Bond Prices Hitting Historic Lows in Global Aggregate Bonds Index: A Cautionary Tale of Convexity?
The average price of long-term bonds has recently reached historic lows, a significant development since the inception of the Bloomberg Global Aggregate Bonds Index in the early 2000s. If the "higher for longer" narrative materializes and persists, it carries substantial implications for bond investors, especially those with long-term bond holdings. This pertains to the convexity of long-term bonds, a crucial yet often underestimated aspect of fixed-income investments. Choosing to retain long-term bonds with reduced prices and the associated lower coupon payments may lead to overlooking the attractiveness of short-term bonds, which currently offer more technically appealing yields. This decision could potentially entail a nuanced opportunity cost in the short term, especially if the 'higher for longer' scenario (which implies a soft landing) persists. Source : Bloomberg
Investing with intelligence
Our latest research, commentary and market outlooks