How investors got burned by Chilango's burrito bonds
How investors got burned by Chilango's burrito bonds
As investors in restaurant chain Chilango's burrito bonds face losing all their money, MoneyWeek’s warning to steer clear of mini-bonds proved prescie…
3 Aug 2020
Collateralised debt: will it be 2008 all over again?
Collateralised debt: will it be 2008 all over again?
Collateralised debt obligations (CDOs) triggered the 2008 financial crisis. Now we have CLOs, or collateralised loan obligations – securitised busines…
26 Jun 2020
Corporate bonds: central banks top up the punch bowl yet again
Corporate bonds: central banks top up the punch bowl yet again
The corporate bond market continues to deliver unlikely returns, as America’s Federal Reserve stepped in with unprecedented support.
18 Jun 2020
The US Federal Reserve's backstop keeps the bond market afloat
The US Federal Reserve's backstop keeps the bond market afloat
An announcement back in March from America's central bank, that it would buy corporate bonds, has given the corporate bond market a fillip even as com…
22 May 2020
Cracks appear in corporate-bond ETFs
Cracks appear in corporate-bond ETFs
Severe volatility has opened up gaps between company-debt market trackers and the underlying assets.
21 Apr 2020
Coronavirus could be the pin to pop the corporate debt bubble
Coronavirus could be the pin to pop the corporate debt bubble
Investors need to beware, says John Stepek. Companies have been loading up on cheap debt, which the coronavirus outbreak could make very difficult to …
6 Mar 2020
There’s still money in bonds for careful investors
There’s still money in bonds for careful investors
Investors should tread carefully in the fixed-income market. But this well-managed investment trust fits the bill.
3 Mar 2020
Get your FREE guide to market crashes
What do past crashes teach us about this one? Subscribe to MoneyWeek now and get a free copy of the Little Book of Big Crashes, plus your first six magazine issues absolutely FREE
Where to find value in the bond market
Where to find value in the bond market
Jeff Keen of Waverton Investment Management selects three of his favourite retail bonds to buy now.
24 Feb 2020
China’s maturing corporate bond market
China’s maturing corporate bond market
Chinese companies are defaulting on their debt in record numbers. And the trouble could spread to state-owned enterprises.
20 Dec 2019
Mini-bonds could spell big trouble for small investors
Mini-bonds could spell big trouble for small investors
Investors have been seduced by the high interest rates on mini-bonds, but they’re not as safe as they seem.
11 Dec 2019
Corporate debt is at record levels – here’s what the risks are
Corporate debt is at record levels – here’s what the risks are
With interest rates at rock bottom, companies have been loading up on debt. And a lot of it is poor quality debt. John Stepek explains what that means…
3 Dec 2019
Cracks emerge in corporate debt
Cracks emerge in corporate debt
The total value of non-financial corporate debt in the US is now almost $10trn, equivalent to half of America’s GDP.
27 Sep 2019
Chart of the week: America’s corporate debt binge
Chart of the week: America’s corporate debt binge
US households have spent much of the past decade deleveraging. Companies haven’t as this chart shows.
23 Aug 2019
Beware the lure of illiquid debt funds
Beware the lure of illiquid debt funds
Illiquid debt offers tempting returns, but the next downturn could still reveal unexpected risks.
6 Aug 2019
Investors are going bonkers for bonds
Investors are going bonkers for bonds
In a further sign of the mania gripping the bond market, Germany issued €3.15bn of zero-interest ten-year bonds last week.
18 Jul 2019
The charts that matter: the US dollar continues lower
The charts that matter: the US dollar continues lower
As markets continue to believe that a cut in US interest rates is just a matter of time, the US dollar continued its fall this week. John Stepek looks…
15 Jun 2019
The boom in dodgy US corporate debt
The boom in dodgy US corporate debt
Investors are flocking back into CDOs – the debt instruments implicated in the financial crisis. But this time hedge funds have a new darling: corpora…
10 May 2019
A symptom of our quantitative-easing-addled world
A symptom of our quantitative-easing-addled world
That Saudi Arabian oil giant Saudi Aramco was able to borrow so cheaply on the markets is odd, says John Stepek.
11 Apr 2019
Stash your cash in bond ETFs
Stash your cash in bond ETFs
A savings account isn’t always practical. Here’s what to do with the cash in your portfolio.
19 Feb 2019
The credit boom is on borrowed time
The credit boom is on borrowed time
In 2008, US subprime mortgage loans triggered the financial crisis. Now, worried eyes are turning to record high corporate debt.
7 Dec 2018
Scott Minerd: the collapse in corporate credit
Scott Minerd: the collapse in corporate credit
The slide and collapse in investment-grade credit has begun, says Scott Minerd, chief investment officer of Guggenheim Partners.
23 Nov 2018
Is this the beginning of the end for bond markets?
Is this the beginning of the end for bond markets?
The corporate bond market has had its worst year since 2008. And it doesn’t look like things are going to get much better John Stepek explains what’s …
19 Nov 2018