Submitted by Jeffrey Snider – Alhambra Investment Partners
This belongs with the last post on the highly “disturbed dollar” but I felt it deserved its own separate piece to feature downstream of funding. Given the liquidity backdrop describing a broad range of extraordinarily disconcerting prices and liquidity rates, the selloff picking up pace in junk is anticipated. Even still, the nature of the crash and that it is spreading is so noteworthy. And a reminder (at the bottom) about what we are dealing with here, nothing like some inconsequential annoyance.