I love the way journalists invent their own narrative of the collective mind of investors and the microcosmic drivers of market activity:
"But investors this week dialled [sic] back expectations for U.S. rate rises."
Really? They would be some dumb investors IMHO. The US Treasury 2YR bond yield may have peeked but it's currently sitting at 2.995%. Furthermore, what really matters is that the spreads on corporate bond yields haven't even come anywhere close to peaking yet. The credit crunch hasn't even started.
why CYM is a Billion $ company in the making, page-2013
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