Recent market rally showed dichotomous movements where high-yield and IG CDS sold off but leverage loans did not participate, indicating correlations that should be tight are breaking down—a warning sign of fragmentation in credit markets.
factualpending
Speaker
Mike TaylorEvidence Quote
“you have these like incredible dichomous movements that should be correlated, but they're not...bonds are selling off, and stocks are not down remotely as much as they should be”
Source
Biggest. Bubble. In. Capital. Market. History | Mike Taylor 1-on-1 With Keith McCullough— HedgeyeCreated: 8/10/2026, 11:06:55 PM
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