From my earlier post this morning, I think this is one of the most important thoughts I have in the current environment…

“There has been a Fed induced recovery in the corporate bond market where Investment Grade bonds have seen a record level of new issuance.  That is why we called the 04/09 Fed decision to potentially buy high yield corporate debt game changing, and protects against the worst-case scenario. 

 The corporate bond market is suggesting companies should survive, the U.S. Treasury market is suggesting it should take more time before they can actually grow.”

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