Today's Bonds Pulse
Bond Yields Surge to 19-Year High, Sparking Stock Market Concerns
The 30‑year Treasury yield climbed to a 19‑year peak while the 10‑year rose from 4.03% to 4.69% before easing to about 4.5%. Goldman Sachs research notes that half‑percentage‑point spikes in yields typically turn short‑term S&P 500 returns negative, heightening correction risk. Inflation is running at 3.8% year‑over‑year, fueling the sell‑off.
Wages of War: Opportunities Amid Risks
Bill Campbell, head of DoubleLine’s Global Sovereign & Emerging Markets team, warned that the Iran conflict – dubbed Operation Epic Fury – is injecting new inflation and growth risks into the global economy. He highlighted rising risk premiums for energy, chemicals and fertilizers as the Persian Gulf security environment deteriorates. Campbell also sees the war accelerating broader shifts: a move toward a multipolar investment regime, capital outflows from the United States, and heightened U.S. deficit spending. These dynamics, he notes, create tailwinds for energy‑exporting nations in Latin America.
Energir, L.P.: Credit Rating Report
On April 1, 2026, DBRS Limited confirmed Energir, L.P.'s issuer rating and First Mortgage Bonds at “A” and its Commercial Paper at R‑1 (low). The same “A” rating and stable trend were also confirmed for Energir Inc.'s issuer rating, First Mortgage Bonds, and Senior...
PYLD: More Volatile Than Its Peers (Rating Downgrade)
The PIMCO Multisector Bond Active ETF (PYLD) now manages about $12.54 billion in assets and posted a 6% total return over the past year. While the fund remains overweight in investment‑grade and securitized holdings with a 4.7‑year duration, its volatility and...
Bonds May Be the Real Winner Now that the World Economy Has Sidestepped a Historic Oil Crisis
The Iran‑driven crisis and the temporary closure of the Strait of Hormuz sparked warnings of the largest geopolitical oil shock in history, with the Dallas Federal Reserve estimating a disruption two to three times larger than the 1973, 1979 and...
Morningstar DBRS Confirms Credit Ratings on New Mountain Guardian IV Rated Feeder III, Ltd.
Morningstar DBRS confirmed credit ratings for New Mountain Guardian IV Rated Feeder III's floating‑rate notes due 2037. The Class A‑2a senior secured notes received an AA (low) rating with a 56% cumulative advance rate, the Class A‑2b notes were rated...
#58734
On April 1, 2026 the Board of Trustees of ETF Opportunities Trust announced the closure and liquidation of the REX Bitcoin Corporate Treasury Convertible Bond ETF (ticker BMAX). Trading will cease on April 13, 2026 and the fund will be liquidated by...
BGB: Discount Widens On Term Fund With Institutional CEF Investor Taking A Stake
Blackstone Strategic Credit 2027 Term is trading at a discount that has widened to over 5.5%, pushing it above the analyst’s buy threshold. The fund’s floating‑rate, senior‑secured loan portfolio offers diversification but carries leveraged below‑investment‑grade credit risk. A large institutional...
AA DIP Tranche Hits QofE, Global Refi Begins
The year is June 2027. First Brands’ new money ultra-priority DIP Tranche AA just traded down to 50 cents. Great news though - the QofE just hit. Finally, the global refi can commence.
Yield Curve Flip Signals Growth Risks Amid Fed Tightness
10Y–2Y yield curve keeps grinding lower, but the type of flattening has shifted from “bear” (short rates up) to “bull” (long rates getting bid). That suggests the bond market is growing more cautious about US economic growth, while the Fed...
RBI Holds Repo Rate at 5.25% and Reaffirms Neutral Stance as Markets React
The Reserve Bank of India (RBI) kept its benchmark policy repo rate steady at 5.25% and reiterated a neutral stance on April 8, 2026. The decision came as the RBI’s Monetary Policy Committee cited resilient macro fundamentals despite heightened geopolitical...
Oil Slump Pushes Yields Lower, India Growth Forecast Cut
🌍 Global News Update: ⦿ Brazil's 10-year bond yield tumbled toward 13.7% as crude oil prices plunged, improving the inflation outlook. ⦿ US crude inventories rose by 3.1 million barrels to 464.7 million barrels in the week ended April 3. ⦿ US 10-year...
Bond Yield Dip Could Trim 30‑Year Mortgages Near 6.4%
Nice move lower today for bond yields. Should result in 30-year fixed mortgage rates back around ~6.375% or lower. But they remain about 0.375% above late February lows and the ceasefire appears tenuous. Actually surprised things haven't already turned higher again...
Morningstar DBRS Discontinues and Withdraws Issuer and Debt Credit Ratings on Seven Solar Power Projects Owned by Concord Solar Energy...
Morningstar DBRS withdrew both issuer and term‑loan credit ratings for seven solar power projects owned by Concord Solar Energy Inc. The discontinued loans total roughly CAD $374 million (about US $277 million) and mature between 2032 and 2035. The rating removal was...
Foreign Investors Flee US Treasuries for Low‑Yield Chinese Bonds
Forget US Treasuries, Chinese bonds are the new safe-haven trade Since the start of the war, foreigners have: - Dumped $82B of Treasuries - Piled into panda bonds The math makes sense: - US 10-year yield: 4.4% - China 10-year yield: 1.8% In the midst of the...
Iran Ceasefire, Treasury Gaps Shift Rate Outlook
A ceasefire in Iran was announced, prompting immediate market reactions. Treasury yields opened higher, preserving bullish gaps and compressing the Federal Reserve’s rate‑cut outlook from an 18‑month to a 15‑month horizon. Technical analysis identifies narrow 3‑5‑basis‑point target ranges for the...
Parametrix Delighted by Investor Support for Hannover Re Parametric Cloud Outage Cat Bond: Haran
Hannover Re has renewed its Cumulus Re (Series 2026-1) parametric cloud‑outage catastrophe bond, increasing retrocessional cyber‑reinsurance capacity to $35 million, up from $20 million in the 2025 issuance. The bond, designed by Parametrix Analytics, uses a parametric trigger based on sustained downtime...
Debtwire Middle-Market – 4/6/2026
In February, high‑yield bond issuance topped institutional leveraged‑loan issuance for the first time in recent months. HY bonds reached $29.7 bn, slightly above the $28.6 bn of leveraged loans, according to Debtwire. The shift reflects investors' appetite for higher‑yield debt amid tightening...
Morningstar DBRS Assigns (P) AAA (Sf) Provisional Credit Rating to Advanzia Master Issuer Compartment 2 Public Notes A Class A...
Morningstar DBRS assigned a provisional (P) AAA (sf) rating to the Class A Notes of Advanzia Master Issuer Compartment 2, marking the first public issuance from the Luxembourg‑based bank’s master‑trust structure. The notes are backed by German consumer credit‑card receivables, with the agency...
Franklin Templeton: No Evidence of Weakening Fundamentals in Cat Bonds, Stays Overweight
Franklin Templeton Investment Solutions kept its overweight stance on catastrophe bonds, noting that despite compressed yields and spreads, the asset class remains fundamentally sound. Q1 2026 saw a record $6.7 bn of cat‑bond issuance across 35 transactions, with new and repeat sponsors...
Bond Market and Mortgage Rates Enjoy Rare Rally
A good day for the #bond market and #mortgagerares for a change. #economics #housing #realestate
NZ 2-Year Yield Stays Steady Amid RBNZ Hawkish Shift
It is remarkable that the NZ 2-year yield saw little adjustment with the RBNZ's hawkish shift. The NZ-US 2-year spread was essentially unchanged despite the $NZUSD rally. Remarkable
Video Interview: TT International's Jean-Charles Sambor at Funds to Watch Asia
TT International’s head of emerging‑markets debt, Jean‑Charles Sambor, highlighted the firm’s growing role in diversified investor portfolios during the Funds to Watch Asia video interview. He noted that the firm’s emerging‑markets debt funds have generated roughly 7% net return year‑to‑date,...
Bonds Stay Steady While Markets Surge
“I think the most interesting thing about today is that bonds haven’t reacted as strongly as the rest of the market,” said Eric Wallerstein, chief macro strategist at Clocktower Group @MarketWatch https://t.co/Eyc4GpGRzX
2‑Year Yield Near Historic Tightness at +0.14%
The 2yr yield is currently just 14bps above the Fed Funds Rate That's historically tight - it has averaged +0.3ppts since 1976 @sonusvarghese https://t.co/lbr63DqekD
Why This Go-Anywhere JPMorgan Bond ETF Is Thriving
JPMorgan Income ETF (JPIE) posted a 6.9% total return over the past 12 months while delivering less than half the volatility of the Bloomberg U.S. Aggregate Bond Index. The fund currently yields 5.6% and benefits from a flexible, multi‑sector mandate...
HYG Nears 200‑Day Average, Fed Minutes Could Spark Late‑Cycle Concerns
$HYG Daily. High Yield Corporate Bond ETF gapping up to 200-day moving average. With Fed Minutes today, then major macro rest of week, am watching to see late-cycle concerns reappear https://t.co/s1J9PRXCS5
Rising Yields, Stable Inflation Expectations Pressure Gold
The market priced as a short-term shock, not structural change: bond yields rose, but long-term inflation expectations did not -> real yields moved rose, a headwind to price of gold.
Bank of England: Interest Rate Hike Predictions Cool as Trader Sentiment Resets
Traders have sharply revised expectations for Bank of England policy, now pricing in only a single 25‑basis‑point rate hike after a cease‑fire between the US, Israel and Iran eased Middle‑East tensions. The two‑year gilt yield fell to 4.1%, down from...
Veteran ERZ
Followed by everyone, and it does seem like everyone in EZ rate space, who has been long ERZ6 since 97 and change.
UST Rally Surges Confidently Amid Fragile Truce
It's a fragile truce so I am surprised how confident the UST rally has been overnight. I guess taking cues from Trump who seems to have his own favored take on developments
NPFI: A Preferred ETF That Actually Behaves Like One
Nuveen Preferred and Income ETF (NPFI) provides institutional investors with actively managed preferred‑stock exposure, featuring roughly 81% investment‑grade holdings and a 51.5% non‑U.S. issuer mix. The fund’s global diversification leans heavily toward systemically important banks, delivering a 2025 return of...
Dimes Surge as 10‑yr Yields Dip Below 4.25%
Tplex: Dimes also fired up this morning +23/32nd's 10 Yr Notes below 4.25% (4.238% -10.5 bp's)
Increase Short US Treasury Bet Ahead of CPI
Good day to gross up and broaden our new short position in US Treasuries (ahead of CPI) $TLT
New Participant in the Netting System of the Government Securities Division of FICC: Hilltop Securities Inc. – GSD #9687
Fixed Income Clearing Corporation’s Government Securities Division announced that Hilltop Securities Inc. has been added as a new participant in its netting system, assigned participant number 9687. The activation becomes effective with trade date Friday, April 17, 2026, requiring all GSD members...
Bond Yields Drop, Trend Signals Remain Bullish
UK and European Bond Yields straight down alongside Oil, but their TREND Signals are still up
Bond Volatility Persists Amid Stock Euphoria and Rising CPI
Bond Market Volatility doesn't get to just "trade" on an euphoric US Stock Market open today - it needs to deal with CPI ripping higher on Friday too https://t.co/DM64FBQn7l
India's 10-Year Bond Yield Nears 6.90% on Iran Ceasefire, RBI Decision Awaited
Indian government bond yields dropped sharply on Wednesday as oil prices plunged following a U.S.-brokered two‑week cease‑fire with Iran. The benchmark 2035 bond yield fell to 6.9177%, down from 7.0458% the previous day, just before the Reserve Bank of India’s...
German 10y Yields Drop 15bps on Iran Ceasefire
German 10y (nominal) yields plunge 15bps (w/10y inflation expectations down 10bps) on Iran ceasefire. https://t.co/TN4TRdNdX1
Tripadvisor Settles $345.4 Million Convertible Notes, No Equity Issued
Tripadvisor, Inc. paid $345.4 million to retire its 0.25% convertible senior notes due 2026, using cash on hand. No noteholders elected to convert, and the company did not issue any new equity, preserving its capital structure as it moves into a...
Bond Rally Fades as Iran Says Ceasefire Violated
U.S. Treasury yields erased an early rally after an Iranian official declared the newly announced two‑week ceasefire with the United States was violated. The ceasefire, which had initially driven oil prices lower and softened inflation concerns, sparked a brief surge...
Ceasefire Triggers Oil and Bond Yield Declines
Two-week ceasefire leads to drops in oil and bond yields. #oil #bonds #economics #mortgagerates #chartdaddy
April Rate Spike Triggered Ten-Month Dow Rally
Almost one year ago right now on April 8th the 10-year nearly hit 5% and futures were crashing. That next day we had 🌮 s and it was the start of a 10-month win streak for the Dow. Something about early April...
Munis Slightly Firmer in Spots Ahead of Trump's Iran Deadline
Municipal bonds held steady with modest gains in select sectors on Tuesday, even as President Donald Trump warned of a deadline for Iran to reopen the Strait of Hormuz. The market’s calmness contrasted with heightened volatility in Treasury yields and...
Nexstar Omitted Redaction of $150M Bond Request
Lawyer for state AGs says Nexstar failed to redact the $150 million bond request in one of its filings that was not filed under seal
Jefferson Delivers Most Hawkish Fed Speech Since 2023
According to Fedlock, today's speech from Fed Governor Jefferson was his most hawkish since 2023 https://t.co/rgs6erEO5l
Milwaukee Mulls $200 M Publicly Financed Convention Hotel to Reclaim Downtown Meetings
Milwaukee’s Wisconsin Center District is reviewing a consultant report that recommends a 650‑room, publicly financed hotel attached to the Baird Center. The plan seeks to close a 418‑room gap with rival Columbus and recapture lost conventions worth $5‑9 million each. Officials...
Mortgage Rates Dip, Spread to Treasuries Narrows to 212 Bps
The average 30-year fixed mortgage rate today: 6.44% Same day last year: 6.82% ------------------- 10-year Treasury yield today: 4.33% Spread today: 212 bps
Fed Hawkishness, Weak Wages, Energy Surge Push Yields Higher
Trifecta of a hawkish Fed, slowing wage growth and surging energy prices seems like a bad combo at a time when household debt delinquencies were already mounting. The 10-year Treasury yield hasn't been this high relative to the growth rate...
Illinois' CGFA Analyzes Pritzker's Budget, Sees More Bonding
The Illinois Commission on Government Forecasting and Accountability projects $3.2 billion in bond issuances for FY2027, pushing total outstanding debt to $29.9 billion. Improved credit ratings have lowered true interest costs to about 4.95% for taxable bonds, down from 5.35% earlier in...
Houston Watching Market to Bring Back High-Yield United Deals
Houston Treasurer Vernon Lewis announced the city will attempt to re‑enter the market with a speculative‑grade United Airlines bond issuance worth roughly $400 million. The deal, originally slated for November, was shelved twice—first due to weak investor interest and later because...