Sovereign Concerns Continue to Spill Into the U.S. Credit Markets
Despite decent reported earnings so far, the market's attention has been captured by the ongoing sagas in Brussels and Washington.
David Sekera
Dave Sekera, CFA, is a senior U.S. market strategist for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. Before assuming his current role in August 2020, he was a managing director for DBRS Morningstar. Additionally, he regularly published commentary to provide investors with relevant insights into the corporate-bond markets.
Prior to joining Morningstar in 2010, Sekera worked in the alternative asset-management field and has held positions as both a buy-side and sell-side analyst. He has over 25 years of analytical experience covering the securities markets.
Sekera holds a bachelor's degree in finance and decision sciences from Miami University. He also holds the Chartered Financial Analyst® designation. Follow David on Twitter: @MstarMarkets. Please note, Dave does not use either WhatsApp or Telegram. Anyone claiming to be Dave on these apps is an impersonator. He will not contact anyone on these apps and will not provide any content or advice on either app.
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Credit Spreads Fairly Valued
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Accommodative Monetary Policy = Risk On
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Credit Outlook: Sector Updates and Top Bond Picks
Credit Outlook: Headlines May Change, but the Themes Remain the Same
Despite numerous headwinds, we expect strong underlying fundamentals will continue to support further tightening in corporate credit spreads.
Credit Market Shrugs Off Crisis After Crisis
Credit spreads tightened last week, and the market easily absorbed an abundance of new issues.
Credit Market Takes New Crisis in Stride
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What Is Bill Gross Really Thinking?
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Strong Economic Growth Offsets Middle Eastern Tensions
The corporate bond market continued to be a beneficiary of the sell-off in the municipal bond market, but this trend could end soon.
Municipal Bond Market Healing
Aside from Illinois' new issue, there were encouraging signs last week in the new issue market for traditional municipal bonds.
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Caution Signs for Corporate Bonds
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Inflation Expectations May Be Heating Up
As commodity prices skyrocket around the world, interest rates have been steadily rising.
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Back to Precrisis Credit Spreads
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Credit Spreads in the U.S. Continue Tightening Trend
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Rising inflation expectations and concern that the U.S. government is still not serious about cutting the deficit hit Treasury prices last week.
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More Sovereign Bailouts to Come?
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Sovereign Default Risks Brewing Once Again
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Credit Markets Off to the Races
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Waiting for Godot or the Fed, Whichever Comes First
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Diverging Credit Trends Between Financials and Industrials
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Reaching for Yield
In the quest for absolute yield, individual investors have been increasingly reaching down the credit-quality spectrum.
Takeovers: Rumors and Candidates
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A Tale of Two Economies
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Credit Regains Momentum
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Positive Momentum Carries Credit Tighter
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Wider One Week, Tighter the Next
Credit spreads have been in flux as economic news swings from negative to positive.
Bad News Is Good News Again
While the Grown-Ups Are Away, the Kids Will Play
Despite investors' efforts to push the markets higher, equity mutual funds, once again, experienced redemptions, while money continued to pour into fixed income.
Market Seems More Wary of Financials
Credit spreads for nonfinancial issuers (especially those in defensive sectors) held up better last week than financials, which widened significantly versus the rest of the market.