The Mangled End Of Markets: An Unambiguous Signal Of Malfunction If Not Distress

Jon Alternative Media, Blogosphere, Corporate, Fiscal Policies, Market Commentary

Submitted by Jeffrey Snider via Alhambra Investment Partners,
While the stock market had one of its best months in years, it was, like the jobs report, uncorroborated by almost everything else. The junk bond bubble, in particular, stands in sharp and stark refutation of whatever stocks might be incorporating, especially if that might be based upon assumptions of Yellen’s re-found backbone. Do or do not, corporate junk remains unimpressed and therefore depressed against the same background drowning as has been in place going back to June 2014.
At yesterday’s close, the S&P/LSTA Leveraged Loan 100 index had fallen back to only a few fractions above its early October multi-year lows. That price action was matched by other high yield, high risk bond views.

This post was published at Zero Hedge on 11/07/2015 –.