[1]This was not supposed to happen. Since The Fed raised rates the temporary (one day) stability in high-yield bonds has been obliterated. Across all sectors, HY bonds are being sold; the HY bond ETF is tumbling back to recent lows; and Energy spreads have surged to record highs. In a nutshell, it's not over yet!
Everything is being sold...
As HYG breaks key support...
[5]
And Energy spreads spike to recod highs...
[6]
As Energy Fwd P/Es begin to fall back to reality...
[7]
Charts: Bloomberg
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Links:
[1] http://www.zerohedge.com/users/tyler-durden
[2] http://www.zerohedge.com/taxonomy_vtn/term/10414
[3] http://www.zerohedge.com/taxonomy_vtn/term/10089
[4] http://www.zerohedge.com/taxonomy_vtn/term/12218
[5] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/12/20151218_energy4.jpg
[6] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/12/20151218_energy3.jpg
[7] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/12/20151218_energy1.jpg
