Wide credit spreads and raised risk of default in HY. 65bps mgmt fee on 
BKLN - good holding a short.
BKLN - good holding a short. 註釋
HY and IG are probably the best sentiment indicators at the moment? With 50%+ of IG BBB we should see credit spreads weighing more on equities into the future..註釋
Powell more dovish at the Economic Club of NY “Interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy — that is, neither speeding up nor slowing down growth,”Credit Spreads tightening at the moment.
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