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Transcript
The Bulls are Crushing the Bears
3
HIGH YIELD MARKET
PERSPECTIVE LETTER
Standing in Front of the
Fed Train
Volume 28, Issue 9 | September 11, 2013
Bond investors endured a difficult summer. A combination of a sharp
rise in Treasury rates, the constant chatter about the size and timing
of the Fed’s tapering plans, and some improvement in the economy
have caused trepidation among bondholders. While credit investors
have suffered since early May, equity investors have fared much better.
We have one U.S. economy but two divergent interpretations. Equity
investors tend to look at a bright tomorrow, while at the same time,
bondholders tend to look at a dreary today.
Please Contact [email protected] for full letter.
SHENKMAN | HIGH YIELD MARKET PERSPECTIVE LETTER
p