Very Disturbed: Selloff Accelerates and Spreads

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.

ABOOK Dec 2015 Funding BofAML HY CCCABOOK Dec 2015 Funding BofAML HY Master IIABOOK Dec 2015 Funding BofAML HY CCC 2008ABOOK Dec 2015 Funding Leveraged Loans

ABOOK Nov 2015 Debt Bubble Gross