One Bank Explains What’s Next For Oil, Commodities, And The Risk Assets They Influence

One of the notable market developments over the past month was the spike in HY's correlation to crude prices when oil took a bath in early March. To be sure, that wasn't entirely surprising, but it was nonetheless notable for what it likely said about the extent to which popular HY ETFs are vulnerable to swings in commodity prices. Indeed it was just a few weeks later when Deutsche Bank decided to look specifically at HYG's correlation with crude and of course, it jumped materially to (almost)