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GFD Blog

Government Benchmark Bond and Total Return Series Extended and Updated

Global Financial Data has updated a number of its long-term government bond series. These updates include both the 10-year Benchmark Bond files as well as the Total Return Series for Government Bonds. Data for several of these countries, such as Austria, Denmark, France, the Netherlands, Russia, Spain and Sweden now extend back to the 1700s. Other series have been extended further back into the 1800s and have improved their granularity.

During the past few years, Global Financial Data has added extensively to its Fixed Income Securities Database which now includes over 6000 files. T ...

GFD Announces Data Partnership with Updata to Provide Superior Technical Analysis

Global Financial Data is pleased to announce its partnership with Updata to provide its long-term, historical data series through their software platform. Updata is the leader in providing tools that allow unparalleled technical analysis of data from other sources. Through Updata, GFD’s subscribers can use the multitude of tools that Updata offers to analyze, backtest and screen the extensive data series that GFD provides to its clients.Updata gives end-users of Global Financial Data an array of tools to maximize use of the data. The integration is seamless and provides the following core p ...

GFD Eliminates the Exchange Bias

Global Financial Data has eliminated the exchange bias.

Other stock databases limit themselves to providing data from the national exchanges, ignoring thousands of local companies that investors in the past would have considered when making their investments. Just as analysts and researchers want to avoid the survivorship bias of ignoring companies that have delisted, researchers and analysts should also avoid the exchange bias of ignoring the thousands of companies that listed on the regional, but not the national exchanges.Global Financial Data has added extensive price data from ...

The Confederate Cotton Zombie Bonds

Confederate bonds are now prized by collectors of Confederate memorabilia. Since the bonds were never redeemed, thousands of these remnants of the South still exist for anyone to own.

One of the more interesting bonds produced by the Confederacy were the Erlanger bonds which were issued in London in an attempt to raise much needed foreign currency for the Confederacy. These bonds were authorized by an Act of the Confederacy on January 29, 1863, and were the only bonds issued in foreign markets by the Confederacy. One of the more interesting aspects of these bonds is that they were Cot ...

The Worst Bear Market in History

Which country has the dubious distinction of suffering the worst bear market in history?

To answer this question, we ignore countries where the government closed down the stock exchange, leaving investors with nothing, as occurred in Russia in 1917 or Eastern European countries after World War II. We focus on stock markets that continued to operate during their equity-destroying disaster.

There is a lot of competition in this category. Almost every major country has had a bear market in which share prices have dropped over 80%, and some countries have had drops of over 90%. ...

Dow Jones’s 22,000 Point Mistake

One of the long-term components of the Dow Jones Industrial Average has been IBM. The company was originally added to the Dow Jones Industrials on March 26, 1932 in a reshuffle involving eight stocks including Coca-Cola, Nash Motors (later American Motors) and Proctor & Gamble. On March 13, 1939, however, both IBM and Nash Motors were removed from the average and replaced by American Telephone & Telegraph and United Aircraft Corp. (now United Technologies).

AT&T was in the Dow Jones Utilities Average until June 1, 1938. Until then, the Dow committee had interpreted utilities in a bro ...

Six Ounces that Saved a Hundred Billion-Dollar Company

Today Pepsi is one of the strongest brands in the world with a capitalization of nearly $125 billion. But this wasn’t always the case. It may be hard to believe, but Pepsi was on the verge of bankruptcy during its first forty years of business. In fact, Pepsi-Cola’s financial situation was so bad that three times between 1922 and 1934, Pepsi-Cola approached Coca-Cola and offered to sell out to their competitor. All three times Coca-Cola rejected their offer.

Coca-Cola’s rejections could be among three of the biggest marketing snafus in history, while

When German Interest Rates Hit 9% Per Week

Yields on United States 10-year bonds rose above 3% at the beginning of January. The yield on the 10-year had reached its lowest point in history in July 2012 at 1.43% as a result of the Fed’s policy of Quantitative Easing. Since then yields have doubled as markets have incorporated the impact of the Fed tapering their purchase of U.S. Government securities.

This raises the question, how high could interest rates go from here? Could interest rates move up to 3% per quarter? U.S. interest rates were that high back in 1981 when the yield on US 10-year Treasuries hit 15.84% and 30-year ...

Seven Years of Famine for Emerging Markets?

So far in 2014, emerging markets have significantly underperformed Developed Markets. Turkey has been forced to raise their interest rates dramatically to defend the Lira while Argentina saw a collapse in its own currency. The Fed is expected to continue to taper in 2014, reducing the flow of funds to Emerging Markets and causing them to further weaken relative to Developed Markets. The MSCI Emerging Markets Index has failed to break above its 2011 highs and could soon break critical support right below 900. How long can this continue?

The chart below shows the long-term relative pe ...

Interest Rates Hit 3% — Per Day! The Story of the Highest Interest Rates in History

Yields on United States 10-year bonds passed the 3% in January. The yield on the 10-year had reached its lowest point in history in 2012 at 1.43% as a result of the Fed’s policy of Quantitative Easing. Since then yields have doubled as the markets incorporated the impact of tapering their purchase of U.S. Government securities.

This raises the question, how high could interest rates go from here? Could interest rates move up to 3% per quarter? U.S. interest rates were that high back in 1981 when the yield on US 10-year Treasuries 15.84% while 30-year mortgage rates hit 18.63%. What ...

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