SJB News and Press, ProShares Short High Yield From 02/10/23

Summary For years, I have tracked a list of the top 10 factors I believe to be most influencing security market prices. It has been a reliable and confidence-building guide for me for years, helping me make sense of the markets and the world as I invest. I present this continuously-...

Summary 2022 provided long only investors with poor returns, both in equity and fixed income markets. With M-2 money supply growth slowing and a profits recession on the horizon, 2023 is likely to look a lot like 2022, particularly in the first half of the year. My portfolio allocat...

Summary ProShares Short High Yield ETF is an inverse fund. The vehicle seeks daily investment results that correspond to the inverse (-1x) of the daily performance of the Markit iBoxx Liquid High Yield Index. SJB encapsulates both rates and spread components when looking at HY - i.e...

ProShares Short High Yield ( NYSEARCA: SJB ) - $0.0873 . Payable Dec 30; for shareholders of record Dec 23; ex-div Dec 22. For further details see: ProShares Short High Yield declares quarterly distribution of $0.0873

Summary Yield and risk continue to disagree with the latter taking the cue to rise from the former. I believe this is unsustainable and will resolve itself in one-of-three ways. In scenario 1 of stagflation, EM shorts would lose as would gold and commodity short-positions. Tankers...

Summary In my opinion, there are three reasons to hold a short position in high-yield debt. Interest rates are likely to continue to rise. There are numerous macro risks on the horizon yet high-yield instruments don't (yet) reflect them. A generally increasing rate environ...

Summary What's Working is consumer staples and energy. What's Not Working is growth stocks and risk on sectors, including crypto. Our first inflation fighting idea comes in the form of Starwood bonds. Our second inflation fighting idea is to invest in pipelines, either through...

Summary What's Working this Week are funds that bet against the market and biotech; What's Not Working is Everything Else. Macroeconomics are Coloring All Financial Markets. When to Sell a Stock: A Case Study in NVDA. Brian Dress, CFA -- Director of Research, Inves...

Summary SJB shorts high yield corporate bonds. The fund has been a winner this year amid rising rates. Deterioration to the macro outlook with widening credit spreads can drive the next leg lower in bonds and bullish trade for SJB. ProShares Short High Yield ETF ( ...

Summary "What's working" is natural gas and not much else; "What's Not Working" is dominated by digital assets and other "risk on" indicators. The "Nothing is Working" Market. A New Bond Strategy - "Enhanced Bond Portfolio". Brian Dress, CFA - Director of Research, Inv...