Indicator to track IG-bonds erosion
See M. El-Erian last articles about credit quality erosion.
US market has near 5 trillion of A grade and BBB bonds.
Economic shock may cause downgrade of these bonds to junk levels which will launch sell-off of these 5 trillion papers.
So we take Ishares quality bonds ETF which includes only AAA bonds (QLTA) and deduct from it performance of Ishares ETF which buy IG bonds near junk levels when managers emphasize positive prospects of emitents (FALN).
Quality minus near junk index.
When indicator increase it (!)may tell about downgrades of BBB bonds to junk levels.
US market has near 5 trillion of A grade and BBB bonds.
Economic shock may cause downgrade of these bonds to junk levels which will launch sell-off of these 5 trillion papers.
So we take Ishares quality bonds ETF which includes only AAA bonds (QLTA) and deduct from it performance of Ishares ETF which buy IG bonds near junk levels when managers emphasize positive prospects of emitents (FALN).
Quality minus near junk index.
When indicator increase it (!)may tell about downgrades of BBB bonds to junk levels.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。