Overall, it amounted more to a credit crunch, difficulties for a time
where junk credits couldn't issue new debt.
DESVARIEUX: And it's now being reported by the Associated Press that Greece's credit rating has been pretty much cut in half, and it's now a junk,
junk credit rating.
When we begin to lever
up junk credit, we have 2 - 3 years to go or so, before the credit cycle crests.
In hindsight, not a good argument, not because Treasury yields fell, but
because junk credit spreads are more critical to private equity than treasury and high - grade yields.
There is
no junk credit there.
But now, it is investors who remain fully invested in obscenely overvalued equities and
junk credit that have become the unwitting dupes in this game.
Poor fiscal management, unrealistic budgeting, and ballooning debt led Oyster Bay to become the only municipality in the state with
a junk credit rating from Standard & Poor's, analysts said, in stark contrast to towns around it.
Aside from that, keep it short and high quality, because the long end isn't acting well, and
the junk credit stress is starting to arrive.