{"id":6824,"date":"2013-02-28T14:26:21","date_gmt":"2013-02-28T19:26:21","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6824"},"modified":"2013-02-28T14:26:21","modified_gmt":"2013-02-28T19:26:21","slug":"analysis-bond-managers-fret-junk-bond-rally-is-losing-steam-reuters","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/28\/analysis-bond-managers-fret-junk-bond-rally-is-losing-steam-reuters\/","title":{"rendered":"Analysis: Bond managers fret junk bond rally is losing steam &#124; Reuters"},"content":{"rendered":"<p>Jennifer Ablan and Sam Forgione at Reuters explain why Dan Fuss, vice chairman and portfolio manager at Loomis Sayles, which oversees $182 billion in assets, is slashing exposure to high-yield bonds:<\/p>\n<blockquote style=\"background-color:#ddddff;\"><p>Fuss and others worry the Fed&#8217;s easy money policy &#8211; short-term interest rates held at effectively zero and a bond-buying program known as quantitative easing &#8211; will soon foster inflation, a bond manager&#8217;s biggest fear. That would drive up interest rates, so bond prices, which move in the opposite direction to rates, would fall.<\/p><\/blockquote>\n<p>Read more at <a href=\"http:\/\/www.reuters.com\/article\/2013\/02\/27\/us-markets-bonds-junk-idUSBRE91Q0WM20130227\">Analysis: Bond managers fret junk bond rally is losing steam | Reuters<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jennifer Ablan and Sam Forgione at Reuters explain why Dan Fuss, vice chairman and portfolio manager at Loomis Sayles, which oversees $182 billion in assets, is slashing exposure to high-yield bonds: Fuss and others worry the Fed&#8217;s easy money policy &#8211; short-term interest rates held at effectively zero and a bond-buying program known as quantitative &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/28\/analysis-bond-managers-fret-junk-bond-rally-is-losing-steam-reuters\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Analysis: Bond managers fret junk bond rally is losing steam &#124; Reuters&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,34],"tags":[1694,1828,2009],"class_list":["post-6824","post","type-post","status-publish","format-standard","hentry","category-fixed-income","category-us-canada-countries-regions","tag-high-yield-bonds","tag-inflation","tag-junk-bonds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Analysis: Bond managers fret junk bond rally is losing steam &#124; Reuters - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analysis: Bond managers fret junk bond rally is losing steam &#124; Reuters - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Jennifer Ablan and Sam Forgione at Reuters explain why Dan Fuss, vice chairman and portfolio manager at Loomis Sayles, which oversees $182 billion in assets, is slashing exposure to high-yield bonds: Fuss and others worry the Fed&#8217;s easy money policy &#8211; short-term interest rates held at effectively zero and a bond-buying program known as quantitative &hellip; Continue reading &quot;Analysis: Bond managers fret junk bond rally is losing steam &#124; Reuters&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/28\/analysis-bond-managers-fret-junk-bond-rally-is-losing-steam-reuters\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-28T19:26:21+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/28\\\/analysis-bond-managers-fret-junk-bond-rally-is-losing-steam-reuters\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/28\\\/analysis-bond-managers-fret-junk-bond-rally-is-losing-steam-reuters\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Analysis: Bond managers fret junk bond rally is losing steam &#124; 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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Our contrarian view is that this is also not a good time to be overweight stocks, as in July 2007. The latest edition of the widely-followed Global Fund Manager Survey by Bank of America Securities has revealed\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6691,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/12\/a-credit-vigilante-arrives-at-the-fed-gavyn-davies\/","url_meta":{"origin":6824,"position":1},"title":"A credit vigilante arrives at the Fed &#124; Gavyn Davies","author":"Colin Twiggs","date":"February 12, 2013","format":false,"excerpt":"Gavyn Davies at FT writes: [Fed Governor, Professor Jeremy Stein] argues that the credit markets have recently been \u201creaching for yield\u201d, much as they did prior to the financial crash. Although not yet as dangerous as in the period from 2004-2007, this behaviour is shown by the rapid expansion of\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43671,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/08\/27\/rising-long-term-yields-impact-on-financial-markets\/","url_meta":{"origin":6824,"position":2},"title":"Rising long-term yields impact on financial markets","author":"Colin Twiggs","date":"August 27, 2023","format":false,"excerpt":"It is uncertain whether we are going to see a soft landing or a hard landing in the next 12 months. Some investors are even betting on no landing at all. While outcomes may be uncertain, there are two things we can count on. First, is that the Fed will\u2026","rel":"","context":"In &quot;Active Investing&quot;","block_context":{"text":"Active Investing","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investing\/active-investing\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-08-25-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-08-25-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-08-25-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63577,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/","url_meta":{"origin":6824,"position":3},"title":"Japan&#8217;s Debt Trap","author":"Colin Twiggs","date":"February 9, 2026","format":false,"excerpt":"Key Points Japanese PM Sanae Takaichi led her Liberal Democratic Party to a resounding 316 out of 465 seats win in Sunday's snap election for Japan's lower house. The Yen strengthened, and long-term bond yields declined on the result. The Japanese government is in a debt trap caused by precarious\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Japanese Yen","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jpy.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jpy.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jpy.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":64955,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/06\/16\/japans-debt-trap-2\/","url_meta":{"origin":6824,"position":4},"title":"Japan&#8217;s Debt Trap","author":"Colin Twiggs","date":"June 16, 2026","format":false,"excerpt":"Key Points The Bank of Japan hiked its policy rate to 1.0% after a long pause. The BOJ also paused the taper of its quantitative easing (QE) program. Japanese government debt is at a precarious 200% of GDP. The Japanese Yen is testing resistance at 160 against the Dollar. The\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Japanese Govt 3-Month Bill Discount Rate","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-16-boj-rate.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-16-boj-rate.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-16-boj-rate.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":50400,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/03\/25\/junk-bonds-bitcoin-a-heady-mix\/","url_meta":{"origin":6824,"position":5},"title":"Bitcoin &#038; junk bonds &#8211; a heady mix","author":"Colin Twiggs","date":"March 25, 2024","format":false,"excerpt":"Bitcoin broke resistance at $68K to signal another test of $72K. Breakout above $72K would offer a target of $82K. Junk bond spreads (relative to 10-year Treasury yields) have declined to 8.54%, indicating readily available credit in financial markets. A decline to lows around 5.0%, however, would be an early\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Bitcoin","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-26-btc.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-26-btc.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-26-btc.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6824"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6824\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}