Stocks Bounce But Credit & Crude Continue Slide
Hope abounds once again this morning. Stocks are up (albeit off their overnight highs) thanks to AUD/JPY and the Ruble is ‘stabilizing’. However, the two crucial factors for recent volatility – crude prices and credit spreads – continue to slump. WTI crude is back below $55 (trading as low as $54.60 this morning) and HY credit spreads have…