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Hi there all.
I watched this presentation by Jeff Gundalach at the Barrons conference recently.
And boy did he tear a hole in the idea that this is a safe market to be invested in!
He speaks in some depth about the miss-pricing and the miss-rating going on the the corporate bond market.
According to a study b Morgan Stanley,
If the corporate bond market were rated correctly right now,
55% of the whole $3 trillion market would be rated junk!
Gundalach says that the corporate bond market now,
is in a similar position to the mortgage securities market in 2007.
tick tick tick tick...........
But of course this problem is contained, its not a big issue, and all of the other excuses that can be rolled out.
We all should have affairs in order because this problem is actually far bigger than the mortgage securities problem was in 2007.
Just imagine the size of the derivative market on the back of the corporate bond market!
Here we go.
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