### Comment:
See 'Nature of the BBBeast'. 55% of investment grade bonds would be junk rated *right now* if judged by leverage ratios alone.

### REPLY:
So a bet against our ability to handle interest rates properly is a bet against *investment-grade bonds*. Jesus. No wonder everyone is so on edge about what the Fed chooses to do. They have the entire world by the balls right now

### END.