Below is a chart published on 9/20, reflecting that high yields have been a good leading indicator for the stock market, for the past decade plus! (see post here)

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Below is an update on the high yield funds over the past few months, reflecting a new breakdown in prices…

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As you can see the majority of the funds are breaking below their early August lows, even though the broad market has not.  If history is any guide and the high yields continue to give leading edge signals, this breakdown is not a bullish sign for stocks and the economy.

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