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Opinion
John Authers

Debt Markets' Eerie Calm Echoes Eve of 2007 Credit Crisis

Junk bond spreads this tight are a reason for unease.

So quiet it’s spooky.

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.