Great example of the K-shaped economy in 2026... Wall Street sees rising equities boosting wealth, but most of the country doesn't own equities. Consumer sentiment is at an all-time low because they care about real dollars. 1/2
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Same/Similarly measured data but shown as actual net positions
Agree.
CCC is only about 9% of the junk market and something like 6 issuers are driving most of the move in CCCs. Everything above it still isn't moving much.
