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Today's links:
Put on your reading socks this weekend & check out Derek's favourite fixed income books (Link)
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Market pullbacks are normal – See chart for number of 5% or more declines annually
U.S. National Bureau of Economic Research estimates that rents decrease by 3% for each 2% increase in the housing stock (Link)
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78% of Americans view renting as more affordable than owning (Link)
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$ Risky loans are making a comeback (Link)
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Complacency before the slaughter – The rise of bond and loan ETFs has given investors the illusion of liquidity in an ever illiquid debt market (Link)
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Humble exits – Embracing humility in the face of success (Link)
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The bear and the bull
