"There Is No Corner To Hide": $100 Billion Fund Manager Warns Credit Rout Is Just Starting [zero hedge]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
NASDAQ:AMEX Investor Relations:
merriam-webster.com/dictionary/legal
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Source: zero hedge
One day after Jeff Gundlach warned in his latest webcast that much more pain is coming for the corporate bond market, echoing a similar warning made just hours earlier by Scott Minerd, who cautioned that "the selloff in GE is not an isolated event. More investment grade credits to follow. The slide and collapse in investment grade debt has begun"...The selloff in GE is not an isolated event. More investment grade credits to follow. The slide and collapse in investment grade debt has begun.— Scott Minerd (@ScottMinerd) November 13, 2018... it was the turn of another fund manager to join the growing chorus of warnings about the coming credit rout.Jason Shoup, head of global credit strategy at Legal & General Investment Management America which manages $186 billion including $100 billion in fixed income, told Bloomberg that rising rates, fading stimulus, weaker earnings and a coming tide of rating downgrades means that the worst year for investment grade in a decade is just the start of
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