As Stocks & Oil Surge, Credit Market Carnage Continues

Everything must be awesome again, right? Stocks are up. Oil is up. Bond yields are up… and no one has said the word “bloodbath” on CNBC yet this morning.

However, those pesky kids in the credit markets won’t let stocks get away with it as HY credit spreads continue to scream wider…

Notably shunning the exuberance of this morning’s equity bounce…

For now stocks are fading back rapidly from overnight highs…

Trade accordingly.