In High Yield: Exodus

Well, we've reached that listless holiday nadir when even Bloomberg has run out of shit to talk about and so you get the exceedingly rare "paid programming" on BBG TV. Right now, it's a fun TIME Life add for a "Golden Oldies" album. I've got a longer piece coming out elsewhere later today (hopefully) on this subject so I won't get too deep in the weeds with it here, but in light of the post we ran here earlier on the extent to which, as Deutsche Bank puts it, "the next nexus of risk is the cred