Here's an actively managed credit fund, Third Avenue Focused Credit (TFCVX). "An opportunistic, bottom-up investment strategy that selects high yield stressed and distressed credits up and down the capital structure." It has been a good performer in the past and is well managed, but it is subject to the whims of the credit markets. It has been serving well as a leading indicator for high yield credit and it is pointing south again. Trouble is brewing.
Expect More Inflation No Matter Who Wins the Election
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For many reasons, the Fed will struggle to contain inflation. This is part
one, deficit spending and interest on the debt.
Deep puts on HYG and JNK are pretty cheap, but the market is filled with HFT spoofers and its very illiquid - gotta screw around for awhile before you can make a transaction.
ReplyDelete- Luke
Tim Knight over at Slope of Hope has a short on JNK. If I'm not mistaken, it's he's most confident in that position and has been holding it at least since summer. He's a pure chartist.
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