Despite what we will hear today from many of the abundant thoughtful bearish commentators on this site, my view from the Berkshire Hills is still very upbeat. As the markets continue to recover due to improving consumer attitudes (see APPLE results), the recovering banking sector (see GS, JPM, BAC and WFC results vs. the BOVE and WHITNEY megaphones) and decreasing job losses that we have seen since the spring, investors should consider the SPDR High Yield Bond ETF (NYSEARCA:JNK). This ETF tracks a basket of 145 below investment grade bonds that are representative of the Barclays High Yield Very Liquid Index. For a small part of a diversified portfolio, this ETF offers monthly income and the potential for continued 2009 capital appreciation.
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