- Junk bonds may look overvalued - and BAML's gauge of their spread to Treasurys is the lowest since 2007 - but Moody's Liquidity Stress Index declined (a good thing) to 3.7% in May from 4% previously.
- There's a bit of Soros' reflexivity at work here as the Index performs well when the junk-bond market performs well, and both seemingly feed off of each other. Its record-low level of 2.8% was set last April and the record-high of 20.9% was set in March 2009.
- ETFs: HYG, JNK, HYLD, SJB, ANGL, HYLS, UJB, XOVR, QLTC
at Nasdaq.com (Nov 17, 2014)