It took less than a year for relative yields to do what took 5 years in the previous cycle. Last time it was gentle and made us fall asleep at the wheel. This time, it's forcefed down our throat and the economy will be dragged down by these companies who have made harmful malinvestiments for years with no recourse. Look at half the companies on the Russell with no profits, for example, and how "well" the index has done while they roll around in fresh fake money.
Commentaire:
Now at March 2018 levels!