These Are Still The Most Disturbing Charts For The Stock Market
Back before everyone became a junk bond expert, we repeatedly showed what in our opinion was the scariest chart for not only the US, but global stock markets: the unprecedented divergence between the stocks and junk bonds, suggesting that if the recent past is prologue, then the S&P 500 is in for a world of pain as it tracks HY credit far lower.
Since then, these fears have been realized and the market tumbled, unleashing even more central bank jawboning and intervention.