The chart of the week is courtesy Bloomberg and shows the maniacal credit boom in china. The credit to GDP ratio in China has breached historical levels and has entered into dangerous territory eclipsing levels seen before recent busts in 2008 and 2015. Another hard landing looks certain:
The Incredible 13%-Yielding Junk Bond Fund That’s Backed By The Fed
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Those dark days did do one critical thing for the high-yield corporate-bond
market: made these so-called "junk bonds" too big to fail.
30 minutes ago