Scott Minerd says stocks have further to fall, but he's buying bonds: 'We're in the value zone'

yield has whipsawed from record lows to back above 1% as the Federal Reserve slashed interest rates and rolled out its programs from the financial crisis to stabilize credit markets.

Minerd said that the market chaos has led to forced selling by mutual funds and hedge funds, creating attractive opportunities in spaces "like in municipal bonds or selected asset-backed securities." "The bond market has only traded cheaper than where it is right now for credit securities like corporate bonds and high yield about 10% of the time. This is telling you that we're in the value zone," Minerd said.

What he said. ScottMinerd follow what he is saying. One of only a few maybe two people on WallStreet that knows what the hell they are talking about.”

Yup I'm betting these guys established their shorts today.

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