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Posts Tagged ‘trend change’

Greece, China and Puerto Rico, Oh My!

July 22nd, 2015 by Kurt L. Smith

The mile markers continue to move on by. Kicking the can down the road appears to be running out of steam and now people are truly being hurt as real losses are now affecting millions of people. (more…)

Bond Interest Rates Jump…Finally!

June 22nd, 2015 by Kurt L. Smith

Bonds are grabbing the headlines again and not in a good way.  Long-term interest rates worldwide have jumped about one full percentage point, sending longer-term bond prices down across the board.  Why this is the case is not important; the fact that bond values are evaporating is important. (more…)

Same Old, Same Old

May 23rd, 2015 by Kurt L. Smith

Times, they may be a changin’, but it is difficult to tell by watching the bond market. New issues usually dominate bond market news and that continues to be the case. Corporate bond issuance continues on a tear while municipal bond issuance focuses on refinancings. Interest rates remain low. (more…)

Municipals, Bonds Without Peers

April 21st, 2015 by Kurt L. Smith

When will the Federal Reserve raise interest rates?  This is the question investors want to know.  Yet I will tell you, it does not matter.  The market tells us interest rates began to rise in 2012; the market will tell us how fast interest rates rise from here. (more…)

Considerable Time Over

January 8th, 2015 by Kurt L. Smith

Long-time readers know we have been waiting for expected change in the bond markets for a…considerable time.  After all, we are in year three of a bond bear market, yet all we seem to hear from bond market participants are interest rates should remain low for a considerable time…until they no longer do. (more…)

Now It Gets Interesting

November 3rd, 2014 by Kurt L. Smith

The Dow shed 1500 points last month and all of a sudden we can focus on something other than congratulating policymakers on keeping stock prices high and bond yields low.  The financial world has been changing in rather dramatic ways but as long as stocks levitated and defied gravity no one seemed to care. (more…)

Another Step Closer

September 5th, 2014 by Kurt L. Smith

Another month, another Letter. I appreciate your readership, particularly in these times of seeming sameness. No body likes to throw cold water on good times, my self included. (more…)

The Mood of Municipal Bonds

June 2nd, 2014 by Kurt L. Smith

When one thinks of municipal bonds, generally the next thought is…boring.  Bonds are usually boring; adding municipal to the mix should make them more so.  Bonds have a job to do and for most of the past several decades they have performed.  Primarily we have the trend to thank. (more…)

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