The equity market may be worrying about Fed policy.
But the bond market is sanguine.
Credit spreads have been narrowing all month. The high-yield/10-yr. spread has shrunk 50 BP or 1/2% so far this month.
At the moment, the outlook for the stock market is good. That may change along with changes in Fed policy, but now the forecast is for rising equities.
Credit spreads have been narrowing all month. The high-yield/10-yr. spread has shrunk 50 BP or 1/2% so far this month.
At the moment, the outlook for the stock market is good. That may change along with changes in Fed policy, but now the forecast is for rising equities.
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