An Insane Bond Market In 4 Charts: “Italian Junk Bonds Yield Less Than US Treasurys”

In our “WTF Chart of the day” from last Friday, we showed something stunning: European junk bonds yields were the same, and in some cases lower, than comparable-maturity 10Y US Treasurys.
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In other words, the distortion unleashed by Mario Draghi’s CSPP, or corporate bond buying program unveiled last March, has made European junk bonds “safer” than US government-issued paper.

This post was published at Zero Hedge on Aug 10, 2017.