The Great Unwind: A New Era?
Oscar Wilde once wrote, “When the gods wants to punish you, they answer your prayers.” Risk assets like high-yield bonds have enjoyed a Fed back-stop. Issuers pounced on record low coupons, and investors suffered through low returns…
▶︎ Read July 25 2022 newsletter: here
▶︎ Chart of the Week: here (by Nuveen, The Conference Board, Bloomberg)
(Any “forward-looking” information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.)
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