As the S&P (+1.3%) tests yesterday's highs, high yield credit is getting ugly again.
SP-500 (2m) and HYG (high yield credit)
Small Caps are at session lows (+0.1%) and Treasury yields, which were hunky-dory earlier, are sliding lower. Also market breadth is notably weaker today than it has been the last 3 days.
The credit signal is not as intense as yesterday afternoon, but it started from a weak place today, and yesterday it happened pretty fast. Volatility has firmed up a little, again not as clearly divergent as yesterday. In short, the market is getting a bit jittery
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