Negative

Record 41% Of European IG Bonds Have Negative Yields As ECB Buys Quarter Of All Eligible Corporate Bonds

As we showed last week (in 20 charts) while 2020 was certainly an unforgettable year for stocks, it was actually credit where the real action was – or as Goldman put it “a year like no other” – for two reasons: i) the direct injection of over $10 trillion in liquidity by central banks in…

Bonds & Black Gold Bid As Negative Nabobs Battle New Issue Nirvanans

Another day, another astoundingly exuberant bid for an IPO as AirBnB opened with one of the biggest pops ($146 vs $68 IPO) since 2008 seemingly confirming JPMorgan’s “market nirvana” argument. But, “on the other hand” – as CNBC might say – stimulus doubts and vaccine take-up uncertainty (as well as extremes in sentiment and positioning)…

Deflation Is Back In China As CPI Turns Negative For First Time Since The Financial Crisis

Yesterday, when discussing the biggest jump in Chinese FX reserves in 7 years we wondered if this was an indication that the PBOC was starting to lean against the surging yuan. Today, after the latest Chinese inflation data released moments ago, we are confident that it is only a matter of time before Beijing will…

US Media Coverage Of Pandemic Far More Negative Than Elsewhere, New Study Finds

Authored by Rick Moran via PJMedia.com, A new study shows that American media outlets have been far more negative in their coverage of the coronavirus than the media in other nations. Not surprisingly, negative stories of Donald Trump and the pandemic were more likely to be published than positive stories about what was happening with…

Airlines On Track To Lose $157 Billion As Global Slump Worsens; IATA Chief Negative On ‘Immunity Passports’

Airlines are on track to lose up to $157 billion between this year and next year, according to the International Air Transport Association (IATA) – a sharp increase over their June projection of $100 billion in losses they made in June for the same period. The new projection includes a $118.5 billion deficit for 2020,…

Here Comes The Double Dip: JPMorgan Forecasts Negative GDP Next Quarter

In retrospect, it was inevitable: after European growth hit a brick wall in October and early November after a second round of partial (or full) lockdowns were imposed, with even the ECB warning that Q4 GDP may turn negative after the record rebound in Q3, it was only a matter of time before the US…