Nears...
We observed similar action in the RR Pool during the 2006-2008
Period.
The demand for Safety was in full force prior to Safety itself
being demonitzed with $34 Trillion in TARP TALF and Ralph.
Buyers are repeating the sames mistakes then as now.
Increased selling pressure by paniced Retail Investors lowered
prices and raised yields on corporate bonds...
Nothing to see here, of course.
Unless you are a student of History and well versed in
the prior Financial Crisis of 2004 - 2008.
We identified the issues with respect to RMBS in March of 2004,
published it and waited ~ 13 months for it to unfold.
A year later the Equities Complex began to see large distortions
which resulted in a 10X leverUp by the Fed...