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Strategies & Market Trends : Bonds & Bond Funds
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To: KyrosL who wrote (111)2/23/2009 11:19:45 PM
From: peter michaelson  Read Replies (1) of 161
 
KyrosL, I see you are returning to longing the discounted higher yield credits. I'm more hesitant now than I was before. I have this bad feeling the sh*t is hitting the fan now.

In the picture I am painting, much of the prior upswings in the lower rated stuff was based on hope for significant change and enhanced clarity with the new political administration. Sadly, so far only further murkiness and uncertainty is being put forth. More money is being thrown at problems, without a clear plan to the goal line.

Without a clear resolution to the underlying problems, economic drag will continue and uncertainty will persist and grow. Thus we see the credit spreads widening.

In fact, now the situation is worse than before, as there is less hope.

Please convince me otherwise.
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