PTBD News and Press, Pacer Trendpilot US Bond ETF From 04/21/20

Junk bonds - those rated BB or lower - surged earlier this month as the US Federal Reserve announced it would be buying high yield ETFs for the first time in history. The announcement came on April 9, less than three weeks following the equity market low on March 23. On the news, speculative...

Originally recorded April 6, 2020 First, we have the crippling global pandemic that we're all struggling with, and second, a concurrent collapse in oil prices. The result of this has been a swift and broad-based repricing of risk across all the capital markets, across all sectors, ass...

The “Great Lockdown” has caused a dramatic drop in 2020 growth expectations from the IMF, which said we are likely to see the worst recession since the Great Depression. But the big news was that the market was up 3% on the back of negative earnings reports from the country...

Originally published April 8, 2020 It has always been interesting to me how the media concentrates almost 100% on the equity markets. It is almost like the bond markets didn't exist or, if they did, that it was on some far off planet that didn't deserve anyone's attention. I have always fe...

By Pater Tenebrarum Everything and the Kitchen Sink After the first inter-meeting rate cut in early March, we opined that further rate cuts were a near certainty and that “not-QE” would swiftly morph into “QE, next iteration” (see Rate Cutters Unanimous for ...

By Scott DiMaggio and Gershon Distenfeld Most of the global bond market sold off sharply in the first quarter as the coronavirus crisis emerged and intensified. Economic activity halted across much of the world. Credit spreads—yields relative to comparable-maturity government bond ...

As a professional bond manager glued to a screen watching prices every day, it's hard to fathom that just a few weeks ago when March began corporate bond spreads were below historical averages¹. Flash forward, through what seemed like an eternity at the desk (or home office!), and those s...

“Convince me why I shouldn’t buy junk bonds.” It wasn’t a challenge. My colleague Kyle was looking at some of the juicy yields on offer in high-yield bonds and was legitimately wondering why he shouldn’t load up his IRA with them. I’m not saying ...

The credit market will be pivotal during the current crisis. In 2008, we had a problem in the credit market (Subprime mortgages), which made financial institutions move into credit tightening mode. Soon, that start cascading into the real economy. The current environment inverts that relation...

By Tajinder Dhillon Brent oil has entered into a bear market, as prices have fallen almost $30 a barrel since the beginning of the year. Initial worries over COVID-19 caused the largest weekly decline in Brent oil prices since January 2016, having declined 13.6% during the week of February...