As the deleveraging continues we are seeing corporations flood into the corporate bond market as lenders remain reluctant to lend. This is just one more sign that the risk to the economy remains deflation as banks horde cash and boost lending standards.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.