💰Yield. Baby. Yield. (June was Nuts)💰

We’re old enough to remember when, back in February, everyone began running away from corporate debt as if buying a bond of any credit quality would come with a special serving of coronavirus. In March, high-yield bond sales fell off a cliff with issuance grinding near zero. But then Jay POW-ell stepped in and stepped up, loaded his bazooka, and fired a…