Feb. 11 (Bloomberg) -- Investment-grade debt sales are drying up and returns on high-yield bonds have turned negative for the year as investors wait to see whether European leaders can contain Greece’s budget crisis.
Mish Shedlock adds the following:
I do not think that treasury yields break to the upside. However, they could. And if they do alongside corporate bond yields, there is a distinct possibility, and one that I have pointed out before, that there may be no places to hide in 2010 other than perhaps the much despised US dollar.
Risk is very high, and rising.
Mike "Mish" Shedlock
Thursday, February 11, 2010
Bond Sales Collapse
