by Gary Gordon | Apr 9, 2020
Corporate debt downgrades are accelerating. The three-week tally for unemployment claims hit 17 million (4/9/20). And annual rate estimates for 2nd quarter GDP are circling around -30%. Yet the data points have not stopped the Federal Reserve’s resolve to...
by Gary Gordon | Apr 8, 2020
They call ’em, “Fallen Angels.” They’re bonds that the credit agencies demote from investment grade (IG) to high yield (HY). Unfortunately, there’s nothing angelic about a wave of downgrades happening all at once. And that’s what transpires in recessions. For example,...
by Gary Gordon | Apr 6, 2020
According to the Wall Street Journal, corporate share buybacks have added a net of $4 trillion to the U.S stock market since the start of 2009. Contributions from elsewhere? They net out to ZERO. What that means is, since the end of the Great Recession, the only net...
by Gary Gordon | Apr 3, 2020
They call ’em, “Fallen Angels.” They’re bonds that the credit agencies demote from investment grade (IG) to high yield (HY). Unfortunately, there’s nothing angelic about a wave of downgrades happening all at once. And that’s what...
by Gary Gordon | Apr 1, 2020
It has been 20 years since the tech bubble burst. And it has been 12 year since the Bear Stearns bailout ushered in the Great Financial Crisis of 2008. Lost in the shuffle? Long-term investing results. Over 20 years, “risk-free” Treasury bonds have handily...
