Contagion Is Already Spreading

May 23, 2016

It looks like contagion is already spreading in the financial sector.

The following is from a Bloomberg piece that was just released today:

Bloomberg: “Bond investors appear to have placed their faith in commodities exceptionalism, with many positing that the recent pick-up in U.S. default rates will defy historical trends and remain confined to that industry.

[…] New research from Deutsche Bank AG pours cold water on that idea, arguing that there are already signs of contagion in junk-rated debt outside of the commodities space.

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