Fixed Income Weekly — 2/14/24
Searching for ways to better understand the fixed income space or looking for actionable ideas in this asset class? Bespoke’s Fixed Income Weekly provides an update on rates and credit each week. We start off with a fresh piece of analysis driven by what’s in the headlines or driving the market in a given week. We then provide charts of how US Treasury futures and rates are trading, before moving on to a summary of recent fixed-income ETF performance, short-term interest rates including money market funds, and a trade idea. We summarize changes and recent developments for a variety of yield curves (UST, bund, Eurodollar, US breakeven inflation, and Bespoke’s Global Yield Curve) before finishing with a review of recent UST yield curve changes, spread changes for major credit products and international bonds, and 1-year return profiles for a cross-section of the fixed income world.
Our Fixed Income Weekly helps investors stay on top of fixed-income markets and gain new perspectives on the developments in interest rates. You can sign up for a Bespoke research trial below to see this week’s report and everything else Bespoke publishes for the next two weeks!
Click here and start a 14-day free trial to Bespoke Institutional to see our newest Fixed Income Weekly now!
January 2024 Headlines
This content is for members onlyB.I.G. Tips – Death by Amazon – 2/9/24
In this note we update performance of our “Death By Amazon” and “Amazon Survivors” indices. The index of stocks that are exposed to Amazon’s business model have traded more or less in lock step with the market over the past two years. That’s a big contrast with the prior decade when they either outperformed or underperformed pretty dramatically.
The same can’t be said for our “Amazon Survivors” names which are intended to capture stocks which are resilient to the rise of Amazon’s monster e-commerce business despite competing with it. This index has generally outperformed the market as a whole.
Both flavors of index have outperformed Amazon significantly over the past five months or so. During that period, the market has broadly rallied even though large tech names like Amazon have sunk to the lowest levels of the equity bear market.
Our “Death By Amazon” index was created many years ago to provide investors with a list of retailers we view as vulnerable to competition from e-commerce. In 2016, we also created our “Amazon Survivors” index which is made up of companies that look more capable of dealing with the threat from online shopping. To see how the two indices have been performing lately and view the full list of stocks that make up the indices, please read our newest report on the subject available to Bespoke Premium and Bespoke Institutional members.
To unlock our “Death By Amazon” and “Amazon Survivors” indices, login or start a two-week free trial to either Bespoke Premium or Bespoke Institutional.
