Excerpt from The Wall Street Journal …
This Investor Says There Are Signs of Stress in Corporate Bonds
By Hardika Singh — May 17, 2023 — Quoted: David R. Kotok
David Kotok says signs of stress are emerging in the weakest part of the investment-grade bond market.
But to see it, investors have to strip out debt from commodities producers, according to a recent note from the chief investment officer at Cumberland Advisors.
Pandemic-era gains in the price of everything from oil to copper has improved the prospects of resource producers, helping paint a rosy picture of the overall health of companies in the lowest tier of high-quality bonds, Kotok wrote Wednesday.
Continue reading at The Wall Street Journal: https://www.wsj.com/livecoverage/stock-market-today-dow-jones-05-17-2023/card/this-investors-says-there-are-signs-of-stress-in-corporate-bonds-3Xsnad0vy9bR2vYyfZJU
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