Stock market investors are optimistic by nature, and that is particularly true today as they have record exposure to equities and are employing many strategies and vehicles that could be deemed highly speculative. On the other hand, bond investors tend to be somewhat...
My December 6th blog titled What, Me Worry? pointed out that high yield bond spreads were at or near all-time lows which could reflect a healthy economy, or alternatively, complacency and “irrational exuberance” in the markets. As shown below, spreads have remained at...
