Don’t Look Now, But The Junk Bond Bubble May Be Bursting

I've been shouting from the rooftops, pounding the table, beating dead horses, etc. etc. for months about the increasingly precarious junk bond market. While analysts have grown more cautious of late about the prospects for HY given not only the mammoth spread compression we've seen over the past 12, but also the relative compression versus IG... (Goldman) ... my warnings have generally fallen on deaf ears as the risk-on sentiment and the assumption that riskier credits carry less rate sens