HEI: Dissecting the ‘incredible’ junk rally and the case for a 24-pound bucket of mac-&-cheese

THE HEISENBERG writes: “We’ve variously marveled at the sheer scope and rapidity of the recent rally in risky credit, both junk and leveraged loans. In fact, the abrupt about-face that’s played out over the course of the last week feels like it’s being driven by something other than the readily identifiable catalysts (e.g., the Fed’s dovish pivot, crude’s surge, dearth of supply). Whatever the case, it’s astonishing – spreads have come …

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Source: The Loadstar

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