How Scary Is the Bond Market?

In the bond market, since June, due to the influence of multiple factors such as fundamentals and investor sentiment, the bond market has taken on a trend of improvement.

Junk?

Junk them.

Elegant junk.

Junk men!

FRANK Junk?

NEW YORK In the 1987 film Wall Street, the character Gordon Gekko famously declared, Greed is good. His creed became the ethos of a decade of corporate and financial sector excesses that ended in the late 1980 s collapse of the junk bond market and the Savings amp

NEW YORK In the 1987 film Wall Street, the character Gordon Gekko famously declared, Greed is good. His creed became the ethos of a decade of corporate and financial sector excesses that ended in the late 1980 s collapse of the junk bond market and the Savings Loan crisis.

Junk the Polish Corridor!

This is no junk.

Good. Where's McGee's junk?

This junk is heavy!

Mr. Bond! Mr. Bond! Mr. Bond!

Bond. James Bond.

Bond. James Bond.

Bond? James Bond?

YUSEl! SHOW HlM YOUR JUNK!

She cannot pick up junk.

11 The Asian Bond Market Initiative was endorsed at the ASEAN 3 Deputies Meeting held in Chiang Mai in December 2002. Its objective is to develop efficient bond markets in Asia.

Less meat, less junk, more plants.

Less meat, less junk, more plants.

WARRlOR! SHOW HlM YOUR JUNK WARRlOR!

His safe's full of worthless junk.

I'm really in the junk business.

Get your junk off this bench.

A wagon full of women's junk!

The solution suggested by the Governor was to borrow about 400 million on the bond market to offset the deficit.

We see ever growing support for the proposal to develop an Asian bond market, which I put forth in 2001.

Meanwhile, the main transmission channels of monetary stimulus to the real economy the bond, credit, currency, and stock markets remain weak, if not broken. Indeed, the bond market channel is unlikely to boost growth.

My name is Bond, Jamal Bond.

James Bond. Oh, yes, Mr Bond.

In short, though central banks creation of macro liquidity may keep bond yields low and reduce volatility, it has also led to crowded trades (herding on market trends, exacerbated by HFTs) and more investment in illiquid bond funds, while tighter regulation means that market makers are missing in action.

But back to animals and junk food.

But back to animals and junk food.

Give me the junk for the salad.

Did you ever see so much junk?

It's probably a piece of clumsy junk.

Just take a look at this junk.

There's so much junk in this car.

It's dangerous to buy any old junk.

Portugal and Ireland have recently seen their bonds downgraded to junk status. Spain could still lose market access as political uncertainty adds to its fiscal and financial woes.

The Asian bond market and Asian bonds are thus mechanisms for financing for development that also promote greater regional economic stability.

Any United Nations bond issue would be evaluated by market participants and potential investors by its credit rating, which is a formal evaluation of the creditworthiness of the bond issue by an independent credit rating agency.

It is true that extraordinarily low long term bond yields put us outside the range of historical experience. But so would a scenario in which a sudden bond market crash drags down prices of stocks and housing.