Friday, August 8, 2014
Junk bonds have been going up all week, actually. KTHXBYE
The junk bonds thing is last week's news. Here's a chart:
JNK has been going up all this week.
As you can see by the chart above, this past week's slope is actually steeper than the slope of the April-to-June run, which tells me that the market thinks junk is undervalued compared to its April-to-June pricing.
And as of yet there's still been no follow-through to last week's barfage.
But no, you guys all go ahead and continue to flog last week's news.