Market Selloff Played Out in the Most Hidden Corners of Credit
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If you’re looking for signs of ructions in the credit market you might have to dig deep -- and you might not be pleased with what you find.
While the cash market for corporate bonds held up reasonably well during the worst of the selloff that engulfed markets in early February, derivatives tied to those same credits were whiplashed with a ferocity that is only now coming to light.