Is High Yield Expensive?

(via alephblog.com)

Event Date AAA AA A BBB BB B CCC CDO Trough 6/5/2007 5.62 5.68 5.90 6.21 6.74 7.34 9.12 Recent Trough 1/25/2013 2.09 2.09 2.47 3.34 4.51 5.64 9.57 Now 2/6/2013 2.10 2.12 2.50 3.42 4.73 6.10 9.80 Yes, I think high yield is expensive, and stocks as well.  We have replaced a set of [...]

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