Not my own chart this time. This chart from Kimble Charting Solutions is worth noting. Different outcome this time?

CLICK ON CHART TO ENLARGE Above compares the Pimco High Yield Fund (PHDAX) to the S&P 500 over the past 20-years. Junk bonds diverged from the S&P 500 for nearly 24-months, prior to stocks peaking in 2000. Junk bonds diverged from the S&P 500 for nearly 7-months, prior to stocks peaking in 2007. To date there is a 12 month divergence from the S&P 500.