CDX: A High-Yield Fund Built For The Crunch

2025-11-24 15:59:05 ET

It's quite frankly wild to me that credit markets are this calm in a late-cycle world, especially as layoffs increase and private credit concerns grow. High-yield spreads have been sitting around levels that in the past have suggested investors are apathetic about default risk, which means that very default risk is being underestimated....

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