Credit Markets Are Cracking And Goldman Sees "De-Risking Intensifying" From Here

Three weeks ago we asked (and answered), "What Breaks Credit?"

Having ignored every risk-off data point and fearmongering headline for months (if not years), the last week or so has seen a sudden seismic shift in credit markets, with high-yield and investment-grade credit markets surging to their widest spreads since Dec 2023...