After gaining 28% in a straight line from the 10% correction low in late October to the most recent all-time high, it’s understandable that the market has been consolidating a bit.
By: Jurrien Timmer
Lower quality bonds are being dumped
Perhaps the market is starting to realize things are not as rosy as it seems. When investors feel the economic winds are on their backs, flows go proportionately to the different credit buckets, in fact one can argue that in an expansion, riskier bets are placed and the worst credit ratings get more money.
By: Gustavo A. Cano
