Book It: Credit Spreads Signal Recession

$176bn worth of corporate bonds has fallen from 'A' to 'BBB' so far this quarter - the highest since late 2015.

The Tweet of the day goes to Bloomberg's Tracy Alloway.

In contrast to 2015, this is not just oil-related. Let's fill in all the missing pieces.

First Time Since Lehman

The Financial Times reports US Credit Markets Dry Up as Volatility Rattles Investors.

Not a single company has borrowed money through the $1.2tn US high-yield corporate bond market this month. If that drought persists, it would be the first month since November 2008 that not a single high-yield bond priced in the market, according to data providers Informa and Dealogic.

Junk Bond Spreads

Bianco Research

Bloomberg reports High-Grade Credit Weakens Most Since February on GE Angst.

Leveraged Loan Deals

Not Isolated

Recession Odds

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