Continuing our recent focus on the weakness in the Hi Yield corporates, as pointed out by Al D and others over the past couple weeks... today both HYG and JNK are testing the 20day lows of Friday.
However, TLT is flourishing... yet other "bond proxies" such as AGG and LQD are also near 20day lows-- although rallying today.
So bond-ness has been weak, except for TLT... and today the HiYields are not rallying.
This latter may have to do with the Venezualan govt bond default. It has sent ripples thru the junk and risk-bond universe.
Last edited by Daniel on Tue Nov 14, 2017 1:59 pm, edited 1 time in total.
Even if you hate Soros, read the full text of the letter that some of the 1% sent to congress.
“Do not cut our taxes… we urge you to oppose any legislation that further exacerbates inequality… The Republican tax plan would disproportionately benefit wealthy individuals and corporations… We believe the key to creating more good jobs and a strong economy is not tax breaks for those of us who have plenty, but investing in the American people….” http://www.zerohedge.com/news/2017-11-1 ... t-my-taxes
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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