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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (17445)12/2/2004 5:57:23 PM
From: russwinter  Read Replies (6) | Respond to of 116555
 
<IMO the junk bond bubble is far far far bigger than any presumed bubble in treasuries.>

Without a doubt. I was once a broker for a large national firm, and I remember how they pushed junk bonds in the Milkin era of the late 80's. When it busted, they didn't even make a market in them any more. One day I called checking on marked down bargains that might have a chance of surviving, and there wasn't even anybody in their "once thriving high yield bond dept". Think the janitor answered the phone. I'll never forget that. This current situation will make that era a cake walk.



To: mishedlo who wrote (17445)12/2/2004 6:13:33 PM
From: Crimson Ghost  Respond to of 116555
 
Foreign dollar denominated asset vigilantes then.



To: mishedlo who wrote (17445)12/2/2004 7:03:31 PM
From: patron_anejo_por_favor  Read Replies (1) | Respond to of 116555
 
<<IMO the junk bond bubble is far far far bigger than any presumed bubble in treasuries.>>

Agreed, it's worse than even in 2000....this time its not tech/telcos, it's fiancial/mortgage junk that's gonna cause the problems.


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