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Cash, Bonds, Rates And Yields Are All Still Sending Nervous Signals

Published Wed, 07 Nov 2018 00:24:32 -0500 on Seeking Alpha

Bernanke If you asked the person in the street, 'Why are interest rates so low?', he or she would likely answer that the Fed is keeping them low. Interest rates are determined by a wide range of economic factors - not by the Fed. - Ben Bernanke, March 2015
Here's the score this far: Person in the street: 8, Ben Bernanke: 0...

Fed While the Fed is projecting 4 more 25 bps hikes over the next year, the market is currently pricing in only 3 (December 2018, March 2019, September 2019).

Auction We wrote about the US Treasury issuing debt (IEF, GOVT, SCHR, VGIT, TIP) at record pace in November.
Following a relatively weak auction of 3-year Treasuries yesterday, yields on the debt have risen to a new post-crisis high.

Speaking of auctions...
Sotheby's (BID) hit a 52-week low, down 35% from its June high.

The ratio of Sotheby's to Consumer Staples (XLP) tells an interesting story about risk appetite over time.

Cash Cash (JPST) is on pace for its best yearly return since 2007.

Short-Term Short-term US Treasury (BIL, SHV, SHY, VGSH, SCHO, STIP) yields hit their highest levels in over 10 years:
1-month: 2.20% 3-month: 2.36% 6-month: 2.51% 1-year: 2.71%
Corporate Bonds US credit markets (AGG, BND, LQD, BSV, TIP, VCSH, VCIT, SHV, EMB, SHY) are still showing signs of a risk-off mood, despite positive returns so far in November.
The lowest-rated bonds (HYG, JNK, AWF, BKLN) continue to... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND 11.78   0.0 0.00 0.00 6.68
SPDR BARCLAYS CAPITAL HIGH YIELD BOND ETF 108.94   0.0 0.00 6.07 5.58
ISHARES JPMORGAN USD EMERGING MARKETS BOND FUND 113.92   0.0 0.00 6.17 5.43
ISHARES IBOXX $ HIGH YIELD CORPORATE BOND FUND 87.32   0.0 0.00 4.60 5.27
JPMORGAN CHASE 117.91   12.0 9.79 3.60 2.74
ISHARES BARCLAYS TIPS BOND FUND 115.82   0.0 0.00 2.15 1.85
SOTHEBY'S 56.85   25.6 2.22 0.00 0.70
ISHARES BARCLAYS AGGREGATE BOND FUND  
SPDR BARCLAYS CAPITAL 1-3 MONTH T-BILL ETF  
VANGUARD TOTAL BOND MARKET ETF  
VANGUARD SHORT-TERM BOND ETF  

ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND - AWF
ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND - AWF  


Older articles featuring Alliancebernstein Global High Income Fund (AWF):
Income Lab Ideas: Dividend Reinvestment Plan
Weekly Review: High-Yield CEFs - А Lot Of Volatility In The Last Week Of January
Weekly Review: High-Yield CEFs - New Fresh Annual High For The Benchmark
Weekly Review: High-Yield CEFs - Lack Of Appetite For High-Yield Opportunities
Weekly Review: High-Yield CEFs - The Price Of The Benchmark Left In Red Territory
Dividend Reliability During A Recession
Weekly Review: High-Yield CEFs - PCF Announced Its Dividend For The Next 3 Months
Weekly Review: High-Yield CEFs - Positive Performance From The Sector
Weekly Review: High-Yield CEFs - FSD Increased Its Dividend For August
Weekly Review: High-Yield CEFs - A Slight Retracement For The Benchmark

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