As the coronavirus pandemic sweeps through the world, we are experiencing massive waves of stock and bond volatility. The speed of the dislocation is breathtaking. While the stock market sell-off generates much publicity, the fixed income sell-off is unprecedented. In only six days, high yield bonds have sold off to levels that took nearly 60 days to reach during the global financial crisis. The same is true across fixed income, without regard to credit quality: investment grade, agency mortgage, and even treasuries have all seen unprecedented selling.
Related
2022 Year Ahead - Time of Reckoning
For the investment world, 2021 was an absolute capital markets party. In the face of the pandemic, money rained from th…
2025 Q4 Quarterly Macro Review
Biltmore Family Office’s Q4 commentary explains why markets keep climbing even as global events create uncertainty and headlines suggest a world in turmoil.
On Volatility and Opportunity
Biltmore Family Office is an independent SEC-registered advisor to investment-oriented business owners and their families.