HARD LANDING AHEAD: Are Credit Air Bags Ready?

• ITM Trading Published on Jan 9, 2019
  Link to slides and sources: https://www.itmtrading.com/blog/hard-…
  For the first time since 2008, no junk bonds were issued in December 2018. “This is clearly more than year-end jitters,” said Guy LeBas, a strategist at Janney Montgomery Scott. “What we’re seeing now is pretty typical for end-of-credit-cycle behavior.” Voila, they too are calling the pattern shift that indicates the end is close. What about governments and central banks? They have their own problems; Trade Wars, Government Shutdowns, Bexit, Italy, bloated balance sheets and massive deficits with trillions in new government debt required. Who do you think will come first?

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