Great chart.
Yeh agree 100% mate. Each wave down cleans the sector up a lot.
Just have to wait it out until the FED starts printing again and that they must as financial markets are showing big signs of fracturing.
High Yield (low investment grade) debt is tapping out for liquidity.
But markets are already trying to front run FED into a pause in raises. Same thing happened at the end of 2019, they were hell bent on raising then folded. Plus the optics of midterms will need to look stable at the very lease.
MK.
