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junk bonds undesired while treasuries catching bid, hyg over tlt

HYG/TLT  
HYG/TLT  
with higher inflation and possible shrinking forward guidance, are corporate junk grade bonds less desirable now? maybe the market doesnt top out or pull back, but cpi over 5% while junk bonds yield mid 4% starts to sound less attractive for the risk, doesnt it?

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