March to May has often been a local low for high-yield spreads. This was true in 2007, 2008, 2011, 2012 and 2015. This is the only "recession" worth watching because it will send a very clean signal. The red line is a signal for getting out of the market. You'd have missed the meat of the 2008, 2011 and late 2015/2016 sell-offs using that as a signal.
Out Like a Lamb
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FEEDThe week ahead will wrap up the meat of the earnings season, with
Amazon (Tuesday) and Apple (Thursday) being the highlights.
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