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Behold! A Six Standard Deviation Blowout In High Yield Credit Fear Gauge
High yield is in trouble, ladies and gentlemen.
Monday's epic collapse in crude prices presages all
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And so ends the battle between the simplifiers and the complicaters….sort of…..In reality there are times when throwing money around as if it grew on trees is not the only answer….The long term damage here will be felt for a very long time to come… The lack of context (at least for me) is somewhat troubling ….
Send the brightest young minds from Princeton, Yale and Harvard to Wall Street and what do you get? Financial weapons of mass destruction and a Potemkin economy.
A simple plot of SPX compared to JNK, shows by that correlation, the S&P is massivey over-priced.
And what choice does the average Joe investor have to grow his money ?? The government lies about inflation, jobs creation, they’re raiding the 401’s. Anything below 3% was losing money. Banks give you nothing and make billions. Bonds look increasingly vulnerable and pay practically nothing. The dollar is essentially bankrupt. Not a good scenario to try to hold value. God help us all.