Month: January 2018

The single most important bond in the world is the US 10-Year Treasury bond.

According to modern financial theory, this bond, with a duration that is meant to cover a full economic cycle, is generally considered the “risk free” rate of the return for the entire financial system.

Corporate debt, mortgage rates, auto loans, even stock dividends are all perceived in terms of their value/risk relative to the yield on the 10-Year US Treasury bond.

With that in mind, the yield on this bond has just broken above the trendline that has guided it lower for the last 25 years.

Put another way, for the first time in over 25 years, the bond market is at real risk of moving into a bear-market.

Why does this matter?

Bonds trade based on inflation.

If inflation rises, so do bond yields.

When bond yields RISE as they are right now, bond prices FALL.

And when bond prices FALL, the massive debt bubble begins to burst.

Globally the world has added over $60 trillion in debt since 2009… and all of this was based on the assumption that bond yields were going LOWER not HIGHER

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

The single most important bond in the world is the US 10-Year Treasury bond.

According to modern financial theory, this bond, with a duration that is meant to cover a full economic cycle, is generally considered the “risk free” rate of the return for the entire financial system.

Corporate debt, mortgage rates, auto loans, even stock dividends are all perceived in terms of their value/risk relative to the yield on the 10-Year US Treasury bond.

With that in mind, the yield on this bond has just broken above the trendline that has guided it lower for the last 25 years.

Put another way, for the first time in over 25 years, the bond market is at real risk of moving into a bear-market.

Why does this matter?

Bonds trade based on inflation.

If inflation rises, so do bond yields.

When bond yields RISE as they are right now, bond prices FALL.

And when bond prices FALL, the massive debt bubble begins to burst.

Globally the world has added over $60 trillion in debt since 2009… and all of this was based on the assumption that bond yields were going LOWER not HIGHER

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

The single most important bond in the world is the US 10-Year Treasury bond.

According to modern financial theory, this bond, with a duration that is meant to cover a full economic cycle, is generally considered the “risk free” rate of the return for the entire financial system.

Corporate debt, mortgage rates, auto loans, even stock dividends are all perceived in terms of their value/risk relative to the yield on the 10-Year US Treasury bond.

With that in mind, the yield on this bond has just broken above the trendline that has guided it lower for the last 25 years.

Put another way, for the first time in over 25 years, the bond market is at real risk of moving into a bear-market.

Why does this matter?

Bonds trade based on inflation.

If inflation rises, so do bond yields.

When bond yields RISE as they are right now, bond prices FALL.

And when bond prices FALL, the massive debt bubble begins to burst.

Globally the world has added over $60 trillion in debt since 2009… and all of this was based on the assumption that bond yields were going LOWER not HIGHER

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

The single most important bond in the world is the US 10-Year Treasury bond.

According to modern financial theory, this bond, with a duration that is meant to cover a full economic cycle, is generally considered the “risk free” rate of the return for the entire financial system.

Corporate debt, mortgage rates, auto loans, even stock dividends are all perceived in terms of their value/risk relative to the yield on the 10-Year US Treasury bond.

With that in mind, the yield on this bond has just broken above the trendline that has guided it lower for the last 25 years.

Put another way, for the first time in over 25 years, the bond market is at real risk of moving into a bear-market.

Why does this matter?

Bonds trade based on inflation.

If inflation rises, so do bond yields.

When bond yields RISE as they are right now, bond prices FALL.

And when bond prices FALL, the massive debt bubble begins to burst.

Globally the world has added over $60 trillion in debt since 2009… and all of this was based on the assumption that bond yields were going LOWER not HIGHER

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

The Debt Markets are beginning to flash multiple warnings that “all is not well.”

High yield credit, also called Junk Bonds, leads stocks and most risk assets to the upside. With that in mind, consider that the High Yield Credit ETF (HYG) has broken its uptrend from the 2016 bottom.

This is a MAJOR warning that the “risk on” move of the last few months is stalling out if not preparing for a correction.

Similarly, the long-term Treasury ETF (TLT) peaked in mid-2016 and is now significantly down, carving out a clear Head and Shoulders topping pattern.

Why are these bonds beginning to roll over?

Because inflation is rising, and bond yields are rising to adjust to this reality.

When bond yields rise, bond prices fall.

When bond prices fall, the Bond Bubble begins to burst bursting.

Globally the world has added over $60 trillion in debt since 2009… and all of this was based on interest rates that were close to or even below ZERO.

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

The Debt Markets are beginning to flash multiple warnings that “all is not well.”

High yield credit, also called Junk Bonds, leads stocks and most risk assets to the upside. With that in mind, consider that the High Yield Credit ETF (HYG) has broken its uptrend from the 2016 bottom.

This is a MAJOR warning that the “risk on” move of the last few months is stalling out if not preparing for a correction.

Similarly, the long-term Treasury ETF (TLT) peaked in mid-2016 and is now significantly down, carving out a clear Head and Shoulders topping pattern.

Why are these bonds beginning to roll over?

Because inflation is rising, and bond yields are rising to adjust to this reality.

When bond yields rise, bond prices fall.

When bond prices fall, the Bond Bubble begins to burst bursting.

Globally the world has added over $60 trillion in debt since 2009… and all of this was based on interest rates that were close to or even below ZERO.

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

The Debt Markets are beginning to flash multiple warnings that “all is not well.”

High yield credit, also called Junk Bonds, leads stocks and most risk assets to the upside. With that in mind, consider that the High Yield Credit ETF (HYG) has broken its uptrend from the 2016 bottom.

This is a MAJOR warning that the “risk on” move of the last few months is stalling out if not preparing for a correction.

Similarly, the long-term Treasury ETF (TLT) peaked in mid-2016 and is now significantly down, carving out a clear Head and Shoulders topping pattern.

Why are these bonds beginning to roll over?

Because inflation is rising, and bond yields are rising to adjust to this reality.

When bond yields rise, bond prices fall.

When bond prices fall, the Bond Bubble begins to burst bursting.

Globally the world has added over $60 trillion in debt since 2009… and all of this was based on interest rates that were close to or even below ZERO.

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

Rates continue to rise, though stocks remain oblivious.

The yield on the 10-Year US Treasury continues to soar, with a confirmed breakout from its 10-year downtrend.

Now, cynics would ask, “why does this matter? The yield is at the same level as it was in 2009, 2010, 2011, 2013, and 2014.”

It matters because throughout this time period, corporates and governments were adding debt.

Corporations added $2.3 trillion in debt during this time period: an amount equal to the GDP of the United Kingdom.

At the same time, OECD Central Government Marketable debt rose from $28 trillion to $42 trillion: roughly $12 trillion or an amount slightly larger than the GDP of China.

All of this was issued throughout this period based on the assumption of low interest rates.

The other issue is that while rates have been at this level before… every single time they moved lower soon after.

Take a look at that chart again… The momentum is now clearly UP, not down.

The US is not alone… the yield on 10-Year German Bunds has also broken its downtrend.

Even Japan’s sovereign bonds are coming into the “inflationary” cross-hairs with yields on the 10-Year Japanese Government Bond just beginning to break about their long-term downtrend.

Globally the world has added over $15 trillion in debt since 2009… and all of this was based on interest rates that were close to or even below ZERO.

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

Rates continue to rise, though stocks remain oblivious.

The yield on the 10-Year US Treasury continues to soar, with a confirmed breakout from its 10-year downtrend.

Now, cynics would ask, “why does this matter? The yield is at the same level as it was in 2009, 2010, 2011, 2013, and 2014.”

It matters because throughout this time period, corporates and governments were adding debt.

Corporations added $2.3 trillion in debt during this time period: an amount equal to the GDP of the United Kingdom.

At the same time, OECD Central Government Marketable debt rose from $28 trillion to $42 trillion: roughly $12 trillion or an amount slightly larger than the GDP of China.

All of this was issued throughout this period based on the assumption of low interest rates.

The other issue is that while rates have been at this level before… every single time they moved lower soon after.

Take a look at that chart again… The momentum is now clearly UP, not down.

The US is not alone… the yield on 10-Year German Bunds has also broken its downtrend.

Even Japan’s sovereign bonds are coming into the “inflationary” cross-hairs with yields on the 10-Year Japanese Government Bond just beginning to break about their long-term downtrend.

Globally the world has added over $15 trillion in debt since 2009… and all of this was based on interest rates that were close to or even below ZERO.

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

Rates continue to rise, though stocks remain oblivious.

The yield on the 10-Year US Treasury continues to soar, with a confirmed breakout from its 10-year downtrend.

Now, cynics would ask, “why does this matter? The yield is at the same level as it was in 2009, 2010, 2011, 2013, and 2014.”

It matters because throughout this time period, corporates and governments were adding debt.

Corporations added $2.3 trillion in debt during this time period: an amount equal to the GDP of the United Kingdom.

At the same time, OECD Central Government Marketable debt rose from $28 trillion to $42 trillion: roughly $12 trillion or an amount slightly larger than the GDP of China.

All of this was issued throughout this period based on the assumption of low interest rates.

The other issue is that while rates have been at this level before… every single time they moved lower soon after.

Take a look at that chart again… The momentum is now clearly UP, not down.

The US is not alone… the yield on 10-Year German Bunds has also broken its downtrend.

Even Japan’s sovereign bonds are coming into the “inflationary” cross-hairs with yields on the 10-Year Japanese Government Bond just beginning to break about their long-term downtrend.

Globally the world has added over $15 trillion in debt since 2009… and all of this was based on interest rates that were close to or even below ZERO.

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

Rates continue to rise, though stocks remain oblivious.

The yield on the 10-Year US Treasury continues to soar, with a confirmed breakout from its 10-year downtrend.

Now, cynics would ask, “why does this matter? The yield is at the same level as it was in 2009, 2010, 2011, 2013, and 2014.”

It matters because throughout this time period, corporates and governments were adding debt.

Corporations added $2.3 trillion in debt during this time period: an amount equal to the GDP of the United Kingdom.

At the same time, OECD Central Government Marketable debt rose from $28 trillion to $42 trillion: roughly $12 trillion or an amount slightly larger than the GDP of China.

All of this was issued throughout this period based on the assumption of low interest rates.

The other issue is that while rates have been at this level before… every single time they moved lower soon after.

Take a look at that chart again… The momentum is now clearly UP, not down.

The US is not alone… the yield on 10-Year German Bunds has also broken its downtrend.

Even Japan’s sovereign bonds are coming into the “inflationary” cross-hairs with yields on the 10-Year Japanese Government Bond just beginning to break about their long-term downtrend.

Globally the world has added over $15 trillion in debt since 2009… and all of this was based on interest rates that were close to or even below ZERO.

All of this is at risk of blowing up as rates continue to rise. The time to prepare for this is NOW before things blow up.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

Dear Reader,

If you’re looking for answers as to why the US financial system is the way it is… or have questions about what’s coming down the pike in the financial markets, pick up a copy of our bestselling book The Everything Bubble: The End Game For Central Bank Policy on KINDLE today.

If you’ve yet to pick up a copy, grab one now. You’ll immediately know more about how the financial system works (as well as what’s come) than anyone else in your social circle.

If you’ve already bought a copy, PLEASE leave us a review on Amazon. It will help get the word out!

This book is a distillation of over a decade of work. It is divided into two sections (How We Got Here and What’s to Come).

How We Got Here outlines everything you need to know about how the US financial system was created, developed, and currently operates “behind the scenes.” Anyone who reads it will have a better understanding of these issues than 99% of the public.

What’s to Come outlines what the next round of Federal Reserve policy will look like when The Everything Bubble (the bubble in sovereign bonds) bursts. It presents a road map for how the next crisis will play out as well as how the Fed will react to what’s coming.

Again, you can purchase the book by CLICKING HERE.

Thank you for your business. I hope you enjoy reading this book. I simply couldn’t be prouder of it.

Best Regards,

Graham Summers

Chief Market Strategist

Phoenix Capital Research

Dear Reader,

If you’re looking for answers as to why the US financial system is the way it is… or have questions about what’s coming down the pike in the financial markets, pick up a copy of our bestselling book The Everything Bubble: The End Game For Central Bank Policy on KINDLE today.

If you’ve yet to pick up a copy, grab one now. You’ll immediately know more about how the financial system works (as well as what’s come) than anyone else in your social circle.

If you’ve already bought a copy, PLEASE leave us a review on Amazon. It will help get the word out!

This book is a distillation of over a decade of work. It is divided into two sections (How We Got Here and What’s to Come).

How We Got Here outlines everything you need to know about how the US financial system was created, developed, and currently operates “behind the scenes.” Anyone who reads it will have a better understanding of these issues than 99% of the public.

What’s to Come outlines what the next round of Federal Reserve policy will look like when The Everything Bubble (the bubble in sovereign bonds) bursts. It presents a road map for how the next crisis will play out as well as how the Fed will react to what’s coming.

Again, you can purchase the book by CLICKING HERE.

Thank you for your business. I hope you enjoy reading this book. I simply couldn’t be prouder of it.

Best Regards,

Graham Summers

Chief Market Strategist

Phoenix Capital Research

Dear Reader,

If you’re looking for answers as to why the US financial system is the way it is… or have questions about what’s coming down the pike in the financial markets, pick up a copy of our bestselling book The Everything Bubble: The End Game For Central Bank Policy on KINDLE today.

If you’ve yet to pick up a copy, grab one now. You’ll immediately know more about how the financial system works (as well as what’s come) than anyone else in your social circle.

If you’ve already bought a copy, PLEASE leave us a review on Amazon. It will help get the word out!

This book is a distillation of over a decade of work. It is divided into two sections (How We Got Here and What’s to Come).

How We Got Here outlines everything you need to know about how the US financial system was created, developed, and currently operates “behind the scenes.” Anyone who reads it will have a better understanding of these issues than 99% of the public.

What’s to Come outlines what the next round of Federal Reserve policy will look like when The Everything Bubble (the bubble in sovereign bonds) bursts. It presents a road map for how the next crisis will play out as well as how the Fed will react to what’s coming.

Again, you can purchase the book by CLICKING HERE.

Thank you for your business. I hope you enjoy reading this book. I simply couldn’t be prouder of it.

Best Regards,

Graham Summers

Chief Market Strategist

Phoenix Capital Research

Love it, or hate it, the $USD is the reserve currency of the world. So what happens to it is of MASSIVE import to the rest of the financial system.

With that in mind, take a look at the below chart.

This is looking more and more like a “false breakout.” False breakouts are dangerous developments because they usually lead to violent drops.

In this case, the above chart suggests the $USD could collapse to the high ‘70s in the coming months.

This is a MAJOR warning. A $USD collapse like that would unleash a MAJOR inflationary shock on the system.

And that’s when we reach the End Game for Central Banks.

Why?

Bonds trade based on inflation.

If inflation rises, so do bond yields.

When bond yields Rise, bond prices FALL.

And when bond prices FALL, the massive debt bubble begins to burst.

On that note, the yield on the most important bond in the world: the 10-Year Treasury, has already broken above its 20-year trendline.

The US is not alone… the yield on 10-Year German Bunds has also broken its downtrend.

Even Japan’s sovereign bonds are coming into the “inflationary” cross-hairs with yields on the 10-Year Japanese Government Bond just beginning to break about their long-term downtrend.

Globally the world has added over $60 trillion in debt since 2007… and all of this was based on interest rates that were close to or even below ZERO.

All of this is at risk of blowing up courtesy of this spike inflation.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

Love it, or hate it, the $USD is the reserve currency of the world. So what happens to it is of MASSIVE import to the rest of the financial system.

With that in mind, take a look at the below chart.

This is looking more and more like a “false breakout.” False breakouts are dangerous developments because they usually lead to violent drops.

In this case, the above chart suggests the $USD could collapse to the high ‘70s in the coming months.

This is a MAJOR warning. A $USD collapse like that would unleash a MAJOR inflationary shock on the system.

And that’s when we reach the End Game for Central Banks.

Why?

Bonds trade based on inflation.

If inflation rises, so do bond yields.

When bond yields Rise, bond prices FALL.

And when bond prices FALL, the massive debt bubble begins to burst.

On that note, the yield on the most important bond in the world: the 10-Year Treasury, has already broken above its 20-year trendline.

The US is not alone… the yield on 10-Year German Bunds has also broken its downtrend.

Even Japan’s sovereign bonds are coming into the “inflationary” cross-hairs with yields on the 10-Year Japanese Government Bond just beginning to break about their long-term downtrend.

Globally the world has added over $60 trillion in debt since 2007… and all of this was based on interest rates that were close to or even below ZERO.

All of this is at risk of blowing up courtesy of this spike inflation.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s in terms of Fed Policy when The Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research