Podejrzana wyprzedaż funduszy obligacji korporacyjnych, zapoczątkowana mocnym obsunięciem PMICO w końcu grudnia, trwa nadal, jest to wystarczający sygnał, że ktoś coś już wie...
Pretty impressive to lose all of the gains since October – in three days.
Of course this isn’t being discussed on CNBS, nor the real reason for it, nor is anyone calling out those who disseminated the “claim” that this was a “fat-finger” mistake originally.
Yeah.
This is high-yield debt by the way. A PIMCO fund on top of it. Closed end, and yes, it does trade at a rather insane premium to NAV, but closed-end funds have a habit of doing that.
But gee, here we are in the New Year, the selling continues at ridiculous volumes compared to the historical average, and in a market where the DOW is up 160 points this issue is down another 5% today.
Who’s whistling past the grave here? If there’s a problem with the constituents in this fund then one has to ask if this is an “isolated incident” or whether it implies some really ugly things around the corner in the credit markets.
If you remember we had “little signals” like this back in 2007 – just before everything went totally to hell. Anyone remember this?
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