European Stocks are back at 2-month lows after falling for 7 straight days – the longest losing streak since early November last year.
This time there is no US election 'surprise' to rescue them!
Given the massive ECB buying program throughout Europe, it is the stock market that is leading the HY bond market lower (after the latter saw spreads crash to a record low 179bps at the start of November)…
This is the biggest absolute widening in HY spreads since Jan 2016 (global growth scare)… (and biggest relative widening since Aug 2014)
via http://ift.tt/2ANtE3f Tyler Durden