The low quality (i.e. high beta) corporate bond rally has continued into 2010...

As a reminder... the SPECTACULAR rally of 2009.

We'll see if this continues. One day is in most cases just noise, but it looks like a high beta sell-off this morning as a flight to quality has sent 10 year Treasuries to 3.54% (down almost 50 bps over the last month).
Source: BarCap
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