Equity vs. Credit Markets: The Divergence Grows Ever Larger

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Given that each market is essentially a barometer of the economic well-being of corporate America, the yawning gap in performance that has opened up between the stock market and the credit market suggests that one or the other is out of synch.

While there are not enough data points to make a definitive statement about which is right and which is wrong, I would note that the last time we had the kind of disparity we have now was in late-2007.

Of course, things are different this time…right?