And since stocks follow junk bonds….
But there’s still no panic.
Distressed Corporate Debt at Lehman-Moment Levels.
It’s getting tough for our over-indebted, junk-rated LBO queens.
“It’s contained – until suddenly it isn’t.”
And the next crisis hasn’t even begun yet.
Investors bloodied as the Great Credit Bubble implodes at the bottom.
CEOs, Wall Street are furiously making hay while the storm moves in.
Chesapeake’s Bonds & Shares Collapse amid Junk-Bond Market Rout.
“Though it’s premature to predict impending doom for the current recovery”: Moody’s