Surveillance: Yellen on China & Recession Risk
Bloomberg Surveillance
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The Characteristics of the Bull Market
Real yields are at their highest level in 15 or 20 years. This is not an opportunity that comes around very often, particularly in an era where the Fed has had to go to the zero lower bound multiple times over the last few decades. There is a little bit of a bifurcation between the markets. High yield has been a market that has not had very much issuance. On the other hand, you have investment grade market,. It's fully open and there is issuance taking place.
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