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Along with the S&P 500, the junk bond market made new bull market highs as well Monday. As shown below, the high yield bond ETF (HYG) had been trading in a very tight range over the past few weeks. Last week it began to pick up, however, and today it broke out of its range to close at a new 2009 high. With both stocks and junk bonds making new highs today, the bull market up-trend has been confirmed once again, paving the way for another leg higher.

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Source: Junk Bond ETF Makes New 2009 Highs