Week InReview: January 5, 2024

Credit. Denied.

Credit markets are having a tough start to 2024, with the combined value of the high-grade and junk markets having shrunk by about $240 billion to $13.6 trillion, the lowest since Dec. 13 according to data compiled by Bloomberg. Spreads in credit-default swap indexes, which act as a barometer of credit risk, have risen back to levels last seen in the first half of December. And that's even before investors have absorbed the usual flood of supply of new corporate bonds that's typical in January.


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