After 5 amazing years at CNN, I’m being laid off as part of a wider re-org. I’m so grateful for the whole team here. We broke news and helped people make sense of it. I’ll stay a few months, then take time to rest and reflect. Call if you need a tech/telecom policy person!

Bank bonds are flying off the shelves. bloomberg.com/news/articles/…

The US high-grade primary market has gone from 0-100 fast! My latest: bloomberg.com/news/articles/…

Boeing will be the biggest US corporate borrower to ever be stripped of its investment-grade ratings if it is cut to junk status trib.al/LFoeXSb

Tight corporate bond spreads are here to stay! bloomberg.com/news/articles/…

BREAKING: *NVIDIA 3Q DATA CENTER REVENUE $30.8B, EST. $29.14B *NVIDIA SEES 4Q REV. $37.5B PLUS OR MINUS 2%, EST. $37.1B *THE AGE OF AI IS IN FULL STEAM SAYS NVIDIA'S HUANG bloomberg.com/news/live-blog…

A slew of blue-chip firms kicked off issuance in the US investment-grade primary debt market, as underwriters brace for what’s expected to be one of the busiest Januaries for bond sales trib.al/WlPcTEs

Global sustainable bond sales reach $1 trillion in 2024 🟢4,490 offerings 🟢Green bonds $571 billion 🟢#Sustainability bonds $239.7 billion 🟢Issuance of sustainability-linked bonds dropped for a third year Story ➡️tinyurl.com/mvfzzz7v (via Caleb Mutua Bloomberg Green)

"An average of $46 billion of high-grade and junk bonds changed hands every trading day last year, up 21% from 2023, according to a report by Crisil Coalition Greenwich" bloomberg.com/news/articles/… via Bloomberg Markets Caleb Mutua

Credit markets are now finally beginning to confirm the angst that has fueled a more than $5 trillion equity wipeout since late February Denitsa Tsekova Caleb Mutua bloomberg.com/news/articles/…

Bank of America put it best: “The biggest shock to global trade in modern times.” And there’s more pain ahead. bloomberg.com/news/articles/…

The additional yield over Treasury bonds that investors demand to hold debt from the largest and strongest US corporations could reach levels last seen during the 2020 financial turmoil caused by the global virus pandemic. bloomberg.com/news/articles/…

THE WORST DEFENSE OF THE TRUMP TARIFFS In today's Odd Lots newsletter, I wrote about how there are so many different arguments being put forth to explain or defend the tariffs. But the stuff about countering China's strategic tech dominance has to be the most egregiously bad.

“No government—regardless of which party is in power—should dictate what private universities can teach, whom they can admit and hire, and which areas of study and inquiry they can pursue.” - President Alan Garber hrvd.me/GarberRespond3…

Latest: Some of the biggest banks on Wall Street are taking advantage of relative calm in credit markets to borrow billions of dollars while they still can. bloomberg.com/news/articles/…

Can't get enough of bank bonds. W/ Ethan Steinberg bloomberg.com/news/articles/…

It's getting more expensive to trade corporate bonds. bloomberg.com/news/articles/…

Apollo, Ares and Carlyle purchased the first bond that offloads risk from bank loans extended to private credit funds known as business development companies. Another twist for SRT markets and BDCs. With Caleb Mutua

Friday frenzy. bloomberg.com/news/articles/…

Credit portfolio trading is booming -- closing in on ETFs. The two feed off each other, says Barclays: “Take ETFs out of the picture, and portfolio trading wouldn’t exist.” Caleb Mutua Lu Wang bloomberg.com/news/articles/…