For the first time in nearly a year there is trouble brewing in bond land:
HYG – High-Yield Corporate Bond ETF
S&P 500 vs. HYG vs. PowerShares Leveraged Loan ETF (TO:BKL)
This could be the first crack in the foundation of the five year long “reach for yield” bull market in corporate bonds and leveraged loans OR it could be a long overdue correction in a highly overextended asset class. Either way this is something that astute market observers should be paying close attention to.