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Cory’s Chart Corner
Great chart from @crescatkevin on growing delta between CCCs and BBBs. Carry-on as if everything is normal!
The second indicator is widening CCC vs. BBB credit spreads.
Credit markets are generally quicker to pick up on deteriorating corporate cash flows than equity markets. While the S&P 500 Index has been hitting new all-time highs over the past six months, US triple-C credit
Daily Archives: August 23, 2019
Passive funds and computerized trading are a toxic mix at record valuations
A decade of QE-flows along with follow-the-leader-price-indiscriminate buying led by computerized trading has made an epic mess of so-called investment markets. Central banks, banks and other ‘market-makers’ did not have the tools and ability to prevent meltdowns of 50 to … Continue reading
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