FYI: The “smart” money may deserve its reputation after all.
High-yield bonds moving with the ebbs and flows of U.S. earnings announcements tend to predict stock returns for a slew of issuers -- particularly firms with a modest level of institutional equity ownership. So stock investors seeking an informational edge should keep their eyes on junk-bond prices on the heels of earnings reports.
Regards,
Ted
http://www.fa-mag.com/news/bond-investors-smarter-than-stock-pickers--study-finds-33945.html?print
