From the Wall Street Journal: "Junk bonds are headed for their first annual loss since the credit crisis, reflecting concerns among investors that a six-year U.S. economic expansion and accompanying stock-market boom are on borrowed time."
The S&P 500 are returning dividends
that makes the coif of bankers stand up straight upon their ends.
High-yield bonds are low and Barclays now says that the worst
of the junk bond bubble is upon our heads to burst.
A debt selloff is coming, and fourth quarter disconnect
will definitely have a grim and default-prone affect.
The six year running of the bulls, unlike that in Pamplona,
will dry up worse than real estate for sale in Arizona.
Debt that's triple-C is underfunded, and that means
a default peak that makes investments worth a hill of beans.
Moody's is so moody with the default rate of bonds
they've gone out on a bender with a bunch of nascent blondes.
To put this into language that the meanest mind can grip,
you can trade your holdings for a single bacon strip . . .
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