Thornburg Investment Management’s Lon Erickson in Bloomberg

Credit Markets Ignore Equity Rally With Fear Gauges Flashing Red

  • CDX widens for eighth day even as equities turn risk-on
  • ‘There is still a fair amount of uncertainty,’ investor says

Need a reason to stay cautious? Look no further than the credit markets.

Measures of investor fear in the U.S. investment-grade and high-yield corporate bond markets shrugged off the rally in stocks Monday amid another session marked by pulled loans and little new-issue activity.

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