Markets

Jun 01, 2001 at 00:00

As the latest credit numbers begin to trickle in, it is clear that May was another extraordinary month for the U.S. credit system. Corporate bond issuance of $88 billion surpassed…

May 25, 2001 at 00:00

The deluge of corporate issuance runs unabated, with even Nextel Communications provided accommodative financing. Nextel issued $1 billion of 10-year convertible notes, with a 6% yield and convertible at about…

May 18, 2001 at 00:00

Perhaps, Greenspan has come to appreciate the acute fragility of the dysfunctional U.S. financial system and an incredibly maladjusted economy. In the early '90s some fretted when he was slow…

May 11, 2001 at 00:00

No doubt about it, reckless money and credit excess has been running unabated. This protracted period of "reliquefication" has now worked its "magic" throughout the credit market, with even some…

May 04, 2001 at 00:00

If I had to make a single observation regarding the weak payroll report, it would be that today's release is the best evidence yet that the current massive monetary expansions…

Apr 27, 2001 at 00:00

The credit market was none too happy with news of continued economic growth and heightened inflation. Two-year Treasury yields jumped 11 basis points to 4.28%, 5-year yields 15 basis points…

Apr 20, 2001 at 00:00

Well, there are certainly diverse ways of looking at things. From listening to the punditry on a number of U.S. business programs, one would be left with the belief that…

Apr 12, 2001 at 00:00

The historic U.S. monetary inflation runs unabated, with broad money supply (M3) surging another $45 billion last week. Institutional money fund assets increased $18 billion and large time deposits added…

Apr 06, 2001 at 00:00

Instability is also a prominent characteristic of the U.S. credit market, with today’s developments leading to a strong rally in Treasuries and fixed-income generally. For the week, 2-year yields dropped…

Mar 30, 2001 at 00:00

It appears the first quarter experienced one of the strongest periods of debt issuance in history, with a staggering $223 billion of new debt coming to market in the U.S.…