BAML: Don't Be Lulled To Sleep By Central Bank Created High Yield Paradise

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Mark Melin
Published on
Updated on

Has the U.S. Federal Reserve created high yield paradise that could soon turn south? There is a charade being played in the markets that will become apparent eventually. “Maybe the market in January and February wasn’t so crazy after all,” a Bank of America Merrill Lynch report opines, as it looks at high yield credit with a sense of disbelief. While the report finds it difficult to envision “an imminent recession,” there are certain data that have yet to be priced into a market that appears asleep based on volatility. This concerning bank report on U.S. high yield debt markets…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.