Credit Market Misery
Spreads blowing out across the board.
The credit market is getting eviscerated. Period.
Whether it's corporates, preferreds or hybrids, spreads continue to blow out.
The Goldman Sachs (GS) preferred I bought the other day at 11.5%? Gonzo. Thank you, Warren.
Don't let the stock market fool you. The credit market is imploding.
If you don't believe me, take a look at the TED spread below, the difference between three month Treasuries and 3 month Eurodollars.
Click to enlarge
The credit market has been a great leading indicator for stocks lately.
For a more detailed look into this topic, please see A Tale of Two Markets.
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