MacroVoices #372 David Rosenberg: The Bear Market Bottom Is Not In
Macro Voices
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The JNK High Yield Bond ETF
I'm not so sure that it's going to be all upside here in April and May as we bump our head up into overhead resistance. The idea that we could mean revert to this really amazing five, six month run on the upside is I think a risk. It'll be interesting to see whether it creates a short term buying opportunity on bonds. To me, if we see that this failed to rally back to 94, where its highs were in January, February, and it rolls over here...this is a canary in the coal mine of when the next risk-off cycle could really get underway.
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