High yield bond ETFs are down for the 8th day in the last 9, retracing the modest bounce from Friday afternoon, plunging to new multi-year lows. In fact, at current levels HYG is trading below the lows it hit in the immediate aftermath of the Lehman collapse (Sept 2008).
Bounce or Break?
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HYG (the High Yield Bond ETF) is trading below the lows hit right after Lehman imploded... (9/17/08 lows were $79.25)
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Is it over yet? You decide... [9]
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As Credit Suisse noted,
There is a theme at present that credit is leading other markets, and is predicting "recession." We are worried...
