Is Credit Trying to Tell Us Something?
As retirement is evidently on again in 2012, let's not forget to keep an eye on HYG (high yield corporate credit).
The start of 2012 has led to a pretty significant decoupling of the S&P (equity) and HYG (credit), which begs the question which is right - as both are "risk on" asset classes, does S&P have a significant correction ahead, or does credit just have some catching up to do?
Over the past few years, it's been equities that have gotten out ahead of themselves.
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