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017 ATM LQD vol is around 7.5% s= a 100% Put costs —3.2% which given the long term chart below and all time high in shares outstanding looks cheap. Chart One shows hourly data of IEF (7-1=y US Treasury ETF) and SPY (S&P500 ETF). Using 60 hourly data points, =orrelation has moved from around -80% a month a
> " from June 28 and=suggests risk parity fund leverage is high and we do not think the relatio=ships have changed significantly. c=span> Today on Bloomberg: Junk Debt Keeps Climbing Desp=te Plunging Oil Prices After moving in lockstep with oil markets for much o= the last two years, high-yield bonds have gone their own way and pos=e
017 ATM LQD vol is around 7.5% s= a 100% Put costs —3.2% which given the long term chart below and all time high in shares outstanding looks cheap. Chart One shows hourly data of IEF (7-1=y US Treasury ETF) and SPY (S&P500 ETF). Using 60 hourly data points, =orrelation has moved from around -80%a month ag
> " from June 28 and=suggests risk parity fund leverage is high and we do not think the relatio=ships have changed significantly. =/span> Today on Bloomberg: Junk Debt Keeps Climbing Desp=te Plunging Oil Prices After moving in lockstep with oil markets for much o= the last two years, high-yield bonds have gone their own way and pos=e
017 ATM LQD vol is around 7.5% s= a 100% Put costs -3.2% which given the long term chart below and all time high in shares outstanding looks cheap. Chart One shows hourly data of IEF (7-1=y US Treasury ETF) and SPY (S&P500 ETF). Using 60 hourly data points, =orrelation has moved from around -80% a month a
arity fund leverage is high and we do not think the relatio=ships have changed significantly. <=span> 14 EFTA_R1_01556382 EFTA02454573 Today on Bloomberg: Junk Debt Keeps Climbing Desp=te Plunging Oil Prices After moving in lockstep with oil markets for much o= the last two years, high-yield bonds have gone their own way and pos=e
Entities connected to both Chart One and Bloomberg: Junk Debt Keeps Climbing Desp

Jeffrey Epstein
PERSON
Marc Rich
PERSON
Paul Volcker
PERSON
Richard Kahn
PERSONHans Mikkelsen
PERSON
Bloomberg L.P.
ORGANIZATIONFrontier Communications
ORGANIZATIONTeva Pharma
ORGANIZATIONUS Treasury ETF
ORGANIZATIONS&P500 ETF
ORGANIZATIONInvestment Grade Supply
ORGANIZATIONInvestment Grade ETF
ORGANIZATIONFrontier Comm
ORGANIZATIONSpec Pharma
ORGANIZATIONAllergan
LOCATIONAmanda
PERSONPfd Return
PERSON
Bank of America
ORGANIZATIONNon-Farm Pay
ORGANIZATIONincreasin=
ORGANIZATION