August 21, 2012 at 17:33 PM EDT
Another Signal That The Rally Is Unsustainable
We have discussed the broad divergences between high-yield credit and equity markets (the former not enjoying the ebullience of the latter) and noted the dismal volume and average trade size of the most recent surge to new highs. Barclays points out one more concerning factor in the rally - the very unusual underperformance of lower quality, higher b...
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