Are Junk ETFs About To Get Stress Tested As High Yield Cracks?

Guess what? Junk is starting to roll over and do you know what that (might) mean? That might mean that we're not too far away from that underlying liquidity mismatch in the high yield ETFs getting a stress test. As we noted on multiple occasions this week, HYG and JNK are looking mighty shaky: Just to be clear, HYG had its worst day in more than a year on Thursday and if things don't improve, Friday is going to be even worse. Not helping matters is crude, which is in a dive and has fallen b