CHART OF THE DAY: Investors Are Only Interested In High-Yield Junk

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Today’s chart shows not only that high-yield junk debt (HYG) has decimated safe debt (LQD) since the market lows, but that in recent days the situation has gotten really extreme.

Investment grade debt has started to break down over the past couple of weeks, clearly breaking an uptrend, while the risky stuff keeps on powering higher.

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