We now know the Fed is on hold for the foreseeable future. Markets are now focusing on Brexit. The referendum has gone decisively in favor of a Brexit. This is all set to rock risk assets with some significant downside. A set up very similar to August 2015 and January 2016 is developing. Lets look at some key drivers:
The Incredible 13%-Yielding Junk Bond Fund That’s Backed By The Fed
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Those dark days did do one critical thing for the high-yield corporate-bond
market: made these so-called "junk bonds" too big to fail.
27 minutes ago