Credit Investors Are All Swagger as Doubt Plagues Equities
- Junk debt leads upturn in risk while safer equities favored
- Short positions on bond ETFs get cut; default swaps stay low
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In the great market rebound of 2019, not all rallies are created equal.
The best start to a year for U.S. stocks since 1987 is plagued by doubt, seen in seemingly relentless outflows, rising premiums for the safest shares and smart-money investors cowering on the sidelines.