Big Day For Risk Aversion $TLT $HYG

The ratio of 30 year treasury ETF to the HYG junk bond ETF lept to a 52 week high.

Amazingly, the junk bond ETF yields only 2% more than TLT - but it has short duration!!! - so people prefer that to dreaded interest rate risk.

Look also at the incredibly bearish biotech-to-treasuries chart.