Where is the money Lebowski?
https://www.zerohedge.com/news/2018-12-20/credit-crashing-and-its-not-just-energy-junk
High yield bond prices are collapsing, but it is clear that liquidity has evaporated as traders have sent high yield bond ETFs (more liquid) dramatically below its fair-value as they seek hedges ahead of their liquidation needs.
Today is HYG's worst day since Brexit, with price crashing to lowest since April 2016... (HY risk nearing the key 500bps level)
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