Junk Bonds Signal The Great Global Debt Binge Is Coming To An End

The market has gone absolutely nowhere for 15 weeks now.

That is not a typo, nor am I bearing overly negative. Since the end of February, when President Trump last tweeted that he had big plans for the economy, the S&P 500 is up a total of just 1.6% or roughly 39 points.

And THIS is the raging bull market that everyone is so crazy about? A market in which it took almost FOUR months for stocks to eek out a 1.6% gain?

Meanwhile against this backdrop of unhinged bullishness, the credit markets are flashing MAJOR warning signals.

Junk Bonds have broken their bull market trendline from the 2016 bottom. This is a MAJOR warning that the markets are switching into “risk off” mode.

Even worse, the rally higher from the 2016 bottom FAILED to reclaim the bull market trendline that has driven HUG higher since mid-2009. This is the hallmark of a major top formation, and it strongly suggests that the Central Bank driven credit bubble from 2009 is now ending.

A Crash Is Coming…

And smart investors will use it to make literal fortunes from it.

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Graham Summers

Chief Market Strategist

Phoenix Capital Research