SPACS: THE PAIN ISN'T OVER YET

And how to play the eventual return of the SPAC arbitrage

The other day I got a call from a buddy who runs a goliath credit fund. He wanted to talk SPACs. This was strange because bond guys generally rarely stoop to trading stocks, yet here he was, wandering into the SPAC square.

And then my antennae went up yesterday morning when a famed bond investor opined about the SPAC market on Bloomberg TV: