Junk bonds are currently pricing in a level of default either equal or greater to the Depression. As bad as the economy will get over the next year, these yields are ridiculous. This is a solid to bet to outperform just with the yield, and if we get… More
Long bonds and junk bonds are both traps for people who are trying to play it safe by hiding in a bear's cave. Two problems concern me about these bonds. One, foreigners stop buying bonds, which nuc all the current bonds as interest rates jump. Two,… More
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