Risk Assets-Credit is the last piece

All of our leading indicators in the Risk Asset layout are negative to severely negative from yields to the $AUD, commodities, the Euro, and more. Credit is the last piece of the puzzle, it' the last asset class to complete the puzzle that has called every major turn this year, it's very early, but since yesterday, Credit is not off to a good start.

 High Yield Corporate is starting to miss and fall apart, we'll keep an eye on this today as it could be an excellent timing marker with other indicators.

High Yield Junk credit is also lagging and is not performing like it was...

Again, the longer term indicators are getting very ugly.