TYBS News and Press, Direxion Daily 20+ Year Treasury Bear 1X Shares Direxion Shares ETF Trust From 11/16/20

Amid all the confusion and commotion in the markets, the main story is simple. This is a world basking in the glory of reflation and accelerating nominal GDP growth. Higher long-term interest rates and a sustained rotation from growth to cyclical and value stocks. For furthe...

The impact on non-agency CMBS defaults, using our Yield Book model to simulate the impact of commercial real estate price declines of 20%, 30% and 40%, over the next year. We find a 40% CRE price decline gives CMBS losses close to the levels seen for 2007/08 loan vintages after the GF...

Global equity markets rallied on Monday after major networks declared Joe Biden the winner of the US presidential election, and early analysis of a COVID-19 vaccine from a large US drugmaker showed promising results. Our Head of Equities Stephen Dover joined Brooks Ritchey of K2 Advis...

A Democratic victory without Senate control is for now reinforcing existing market trends such as the hunt for yield and growth stocks. A resurgence of Covid-19 cases has led to new national lockdowns in Europe, threatening to weigh on mobility and activity in the near term. Data ...

I want to discuss a recent Wall Street Journal article by Ruchir Sharma entitled 'The Rescues Ruining Capitalism'. For each dollar of economic growth since 2008, it required $12.67 of monetary stimulus. Sounds okay until you realize it came solely from debt issuance. While the Fed...

The one common denominator regardless of the election outcome is monetary policy, and the Fed's new framework will continue to come into focus. The UST 10-year yield rose by 20 basis points during the month, coming in within hailing distance of 0.90%. Investors should consider pos...

Head of Equities Stephen Dover joined Templeton Global Macro’s Katie Klingensmith and Fiduciary Trust Company International’s Gene Todd for a discussion. Why they think in times of uncertainty it’s so important to keep a long-term view. Why potential investmen...

Potential risks cloud the horizon in almost every direction, but the market is not ignoring this. Risk aversion is still abundant and visible, especially in the levels of the Vix index and Treasury yields. Yet the economic statistics of late paint a very promising picture of a V-s...

Inflation could be a key story in 2021 and 30-year Treasury bonds are messaging not just inflation, but also growth. Aggressive housing price increases could eventually become self-defeating and price first-time buyers out of the market. The consensus seems to be that there’...

Each and every day the markets are swayed by what the politicians are doing, and what they are likely to do. The participants in the markets stand back, look around, and then place their bets. The easiest response is to have additional cash. Except that cash now yields nothing, an...