Someone explain to me why HY spreads are so tight and why I shouldn’t just buy a ton of protection here.
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I mean I won’t actually do it regardless of what anyone says, but I do want to know. Seems absurdly bullish to me.
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https://twitter.com/lisaabramowicz1/status/1357687786988535808 … defaults do not 'maximize employment'. HY = new treasuries?
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Jesus, the only other time its been this tight since 2012 (where my BBG time series ends for some reason) was right before COVID. No idea why...pic.twitter.com/WrOvUBZ3Nn
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The only time it's been this tight before that is **2007**
End of conversation
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Blackrock is still buying HY for
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