Minerd Says Investment Grade `Slide and Collapse' Has Begun
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The selloff in GE bonds isn’t isolated, tweeted Scott Minerd, Guggenheim Partners chairman of investments and global chief investment officer. "The slide and collapse in investment grade credit has begun," Minerd tweeted.
Investment grade corporate debt has dropped more than 3.5 percent so far this year and is on track for its worst year since 2008, when it lost almost 5 percent. The market fell by about 1.5 percent last month, its biggest October loss in a decade.