Compressed bond yield spreads lack margin of safety
Investing in corporate or risky fixed income when yield spreads over T-bills are narrow or negative yields poor risk-adjusted returns.
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The story so far
- Credit spreads signal market complacencyTHOUGHTFUL MONEY
- Credit offers carry yield despite tight spreadsBARRON'S STREETWISE
- Wait for wide credit spreads before buying bondsTHE ACQUIRERS PODCAST
- Compressed bond yield spreads lack margin of safety · THIS IDEATHE ACQUIRERS PODCAST
- Income over duration in fixed incomeBLOOMBERG SURVEILLANCE
- Bonds reclaim traditional portfolio roleBLOOMBERG SURVEILLANCE
- Focus on high-quality fixed income, selective private creditBLOOMBERG SURVEILLANCE
HOW THE SHOWS HAVE DISCUSSED THIS THESIS OVER TIME · NOT A PERFORMANCE RECORD