Markets are hanging by a thread, and most don’t see it coming. High-yield corporate bond spreads just spiked 60 basis points in a month—hitting a six-month high. Investment-grade spreads aren’t far behind, climbing to their highest level since September. These are stress fractures in the system, warning signs that something is breaking.
🚨WARNING🚨
S&P500
2008 VS 2025.
Scary? pic.twitter.com/pu43gwmoXD
— The Great Martis (@great_martis) March 18, 2025
BREAKING: US high-yield corporate bond spreads are up ~60 basis points over the last month, to 3.20%, a 6-month high.
At the same time, investment grade corporate bond spreads have risen 27 bps, to 0.96%, the highest since September 2024.
US corporate bond spreads are a good… pic.twitter.com/xCz4Tebyr9
— The Kobeissi Letter (@KobeissiLetter) March 17, 2025
S&P 500 Update
A majestic broadening formation is in play.
We’ve either completed the backtest or will rise slightly before resuming the bloodbath.
It’s a process; let it process. https://t.co/EZ0QAzNGaA pic.twitter.com/FIVyAPOeog
— The Great Martis (@great_martis) March 17, 2025
Hey bulls, how is this bullish? 👇🏼 pic.twitter.com/KPRVrUV6oK
— Kalani o Māui (@MauiBoyMacro) March 17, 2025
“So far, industry analysts haven't gotten either the tariff memo or the recession memo. S&P 500 forward earnings per share rose to a record $278.59 during the March 13 week.”@yardeni @ericwallerstein pic.twitter.com/NQNqb9nYBH
— Daily Chartbook (@dailychartbook) March 18, 2025
Global growth expectations saw the second biggest drop on record, but, at the same time, allocation to euro zone stocks was the highest since July 2021, with banks becoming the world’s favourite sector, according to the survey.
The survey included 171 participants with $426 billion of assets under management.