US Municipal Bond yields have now risen for 10 straight days, spiking from 1.72% to 2.34% today - the highest since July 2015. This crash has now moved munis to the most-oversold-ever as the group suffers the biggest fund outflows since 2013's taper tantrum.
The last 2 times that Muni yields spiked at such a pace marked dramatic buying opportunities...
Notably, Munis are also "cheapest" to Treasuries since Oct 2015...
Authored by Alastair Crooke, via Raul Ilargi Meijer's Automatic Earth blog,
We are plainly at a pivotal moment. President-Elect Trump wants to make dramatic changes in his nation’s course. His battle cry of wanting to make “America Great Again” evokes – and almost certainly is intended to evoke – the epic American economic expansions of the Nineteenth and Twentieth centuries.
Back in the summer we wrote about an IMF report that flagged Deutsche Bank as the "most important net contributor to systemic risks" (see "'Deutsche Bank Poses The Greatest Risk To The Global Financial System': IMF"). Those who read our site frequently were likely not terribly surprised by the IMF's conclusion.
Submitted by Ryan McMaken via The Mises Institute,
In an earlier post we looked at nationwide growth in the Supplemental Nutrition Assistance Program (SNAP), also known as "food stamps."
We found that, thanks to many years of accelerated growth in the program under both George W. Bush and Barack Obama, 1 in 7 Americans now participate in the food stamp program.