IGOV News and Press, iShares S&P/Citigroup International Treasury Bond From 10/27/19

It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope, it was the winter of despair. We ha...

Since markets bottom on extreme pessimism, rise on a wall of worry, and peak on over-exuberance, we were pleased to read in Barron's this weekend that their fall 2019 Big Money Poll showed that only 27% of money managers were bullish, the lowest reading in more than 20 year. According to Mor...

A belief in steady and predictable mean reversion has cost investors a lot of money this cycle. The problem with applying mean reversion to investing is that market averages are not written in stone. Here are three examples: CAPE Ratio If there was a contest for the chart that’...

Because the prevailing theory behind the global slowdown is "trade wars", most, if not all, attention is focused on China. While the correct target, everyone is coming it at from the wrong direction. The world awaits a crash in Chinese exports engineered by US tariffs. It's not happening, at...

Government bond yields started rising again in September, following several months of record-low levels around much of the globe. Only Greece and Italy bucked the trend, with the mid-yield on their 10-year benchmark notes dropping by 22 and 21 basis points to end the month at 1.27% and 0.81%, ...

Monetary policy has passed the point of diminishing returns virtually everywhere in the world except the United States, and possibly China, which both have more room to run. Powell stated it correctly last week after the Fed lowered rates by an additional quarter a point. He said that monetary...

In The Great Crash of 1929 , John Kenneth Galbraith describes the bezzle, the "inventory of undiscovered embezzlements," that grows in times of rising markets. When the markets collapse, these schemes are exposed and lead to large losses for investors. But Galbraith identified a sweet spot ...

The financial press, and many institutions and individuals, are highly concentrated on our "Game of Thrones" with China. Make no mistake here, the tariff skirmishes are just part of the overall battle, one part. There is much more going on here besides the wrangling about tariffs and consumpti...

Yields on 10-year government debt continued to decline in August. All of the 18 sovereign markets Tradeweb tracks in its monthly Government Bond Update saw yields fall by more than 10 basis points, with some even hitting record low levels in the process. Leading the pack was the 10-year U.S....

Why are interest rates so low? Here is the 10-year bond yield, by itself and subtracting the previous year's inflation (CPI less food and energy). The 10-year yield has basically been on a downward trend since 1987. One should subtract expected 10-year future inflation, not past inflation, a...