in an interview i watched yesterday the guy was saying that it's not the stock
mkts that's the problem but the credit markets:
that they haven't bottomed, spreads are at record highs and going higher, that
there's daily forced selling of major structured credit products and portfolios,
discounting is dramatically worse, 90% of high yield bonds are liable to default
over the next 5 years - impossible, credit mkts discounting 20% yields
if you can make sense of that, can you explain what's going on, what the whole
picture is and consequences of what he's referring to
mkts that's the problem but the credit markets:
that they haven't bottomed, spreads are at record highs and going higher, that
there's daily forced selling of major structured credit products and portfolios,
discounting is dramatically worse, 90% of high yield bonds are liable to default
over the next 5 years - impossible, credit mkts discounting 20% yields
if you can make sense of that, can you explain what's going on, what the whole
picture is and consequences of what he's referring to
