Just a little charting. Here is the a junk bond index SHIAX plotted together with S&P500 (click to enlarge):

SHIAX 3y

As you can see all previous tops and bottoms of SHIAX and S&P500 are exactly coincident, except the last 6 weeks.

Maybe this pattern is accidental? Ok, lets look at the 10 year chart:

SHIAX 10y

All the same pattern for the last 10 years, except this time.

So, this time is finally different? Yes, I think so. The stock market is finally separated from the reality

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