Junk bond funds were a little weak yesterday, but they tend to lag the stock market by a day or two. If the stock market holds up well today, we may see some renewed strength in junk bond funds today or tomorrow.
Tuesday, March 23, 2010
Market Comment 03 23 10
The stock market started on the weak side yesterday, but quickly strengthened, ultimately closing broadly higher. The sell off at the end of last week was modest, but sufficient to relieve the short-term overbought condition. Anyone who was looking for an excuse to sell has probably done so at this time. The risk sentiment-driven sell off has been significantly reduced for now.
Junk bond funds were a little weak yesterday, but they tend to lag the stock market by a day or two. If the stock market holds up well today, we may see some renewed strength in junk bond funds today or tomorrow.
Junk bond funds were a little weak yesterday, but they tend to lag the stock market by a day or two. If the stock market holds up well today, we may see some renewed strength in junk bond funds today or tomorrow.
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