John Authers, Columnist

Debt Markets' Eerie Calm Echoes Eve of 2007 Credit Crisis

Junk bond spreads this tight are a reason for unease.

September 9, 2021 at 4:26 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

So quiet it’s spooky.
Photographer: CHRISTOF STACHE/AFP/Getty Images

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When markets get dull, it is an old standby for financial commentators to say that they’re too quiet. But sadly, even that might not be true this time. Or at least, it’s not true of the remarkably steady advance of the U.S. stock market.