WTF Just Happened to the Bond Market and Credit Spreads?
Credit spreads have exploded in recent weeks, and not just the triple hooks. It has spread to other parts of the public market. And now that September has finished up, we might finally get more fundamental trading in USTs. Part (much?) of the recent selloff has been, well, three September effects. I'll explain what those are/were and what that might mean. It did for Oct 1.
Video Summary
AI GeneratedRising credit spreads, particularly the shift from high-risk \"triple C\" bonds to investment-grade credit, signal a broadening downturn in the credit cycle. Combined with seasonal liquidity bottlenecks in the repo market and the \"September effect\" on Treasuries, these technical and macroeconomic pressures may soon force the stock market to pivot from AI optimism toward systemic macro risks.