Wal-Mart Rising, IOUs Falling Show Weak Economy: Credit Markets

Wal-Mart Stores Inc. bonds are rallying and short-term business borrowing is falling the most in three months in a sign credit markets are increasingly concerned that the economic recovery is stumbling.

Bonds from discount retailer Wal-Mart gained 3.98 percent this month, the most of the 50 largest issuers in Bank of America Merrill Lynch’s Global Broad Market Industrial index, which has gained 2.28 percent. Commercial paper outstanding fell $23.7 billion in the week ended Aug. 25, the biggest drop since the period ended May 19, according to the Federal Reserve.