Ah, I miss the Junk Bond days of the late 80's and 90's. Quite pleased to see this post. Thank you @joshsigurdson. One must always be cognizant of the equity component of junk bonds and how it is one of many key indicators of future equity market moves/returns. It was a much more reliable leading indicator back in the day. However, with HFT, ETFs, etc., it has become somewhat less reliable, yet important.