While the BofA points out that the index of investor confidence indicates greater financial market greed than fear, the current level of bullishness is close to a level that could result in a contrarian “sell” signal.

iShares iBoxx $ High Yield Corporate Bond ETF

For more information on speculative-grade debt, visit our junk bonds category.

Max Chen contributed to this article.

Full disclosure: Tom Lydon’s clients own shares of HYG, JNK and LQD.

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