Contrary to common wisdom, rallying GVTPaper Yields (US: yellow; DE, dark blue) are being accompanied by tightening global HY OAS. This is all the more counter-intuitive if not under the premises I outlined long ago in that 60/40 is dead and inertia favours risk in all its forms. https://t.co/d2UbnjlNr6 https://t.co/17HD7bqOQC

Contrary to common wisdom, rallying GVTPaper Yields (US: yellow; DE, dark blue) are being accompanied by tightening global HY OAS.
This is all the more counter-intuitive if not under the premises I outlined long ago in that 60/40 is dead and inertia favours risk in all its forms. https://t.co/d2UbnjlNr6 https://t.co/17HD7bqOQC