It is becoming increasingly difficult to ignore the collapse of global credit markets… as Markit warns the number of distressed bonds (trading greater than 1000bps) is "escalating at an alarming pace."
26% of the entire high yield bond universe is now at "distressed" levels – the highest since the financial crisis.
As we noted previously, credit is screaming and for now stocks are shurgging… and credit is always right in the end!
1,100 is the target…
via Zero Hedge http://ift.tt/1QceXvN Tyler Durden