Last week’s “Risk On” mood was most clearly demonstrated by the chart above which shows that despite the jump in rates, high yield debt, (Junk) out-performed the TLT in both the short and longer-term measures. Not surprising, all four key U.S. equity markets also continued their relentless climb up, +.5% (on average) shrugging off what would normally be considered lousy news. A failed summit with North Koreans and the Cohen spectacle on the Hill was
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