Bonds

The Fed’s decision to stay on a path of raising rates will have implications throughout the interest-rate world, including the high-yield debt market.

With a history of defaulting on its debt, it would be natural for investors to proceed with caution with Argentina. But that’s not the case.

Being hungry for yield-related assets is one thing. Throwing all caution to the wind when seeking yield is another.

I don’t know when the bear market in bonds will start, but I do know that investors will suffer terrible losses when it happens.

While many are calling for concern over rising bond prices, based on the data, this isn’t something to be alarmed about.