Idea for Credit:
- Stocks had a bit of a reprieve as China's collapsing property firms were halted for 2 weeks, and China's markets had gone on holiday for Golden week.
- Stock market had an unwinding of hedges last week, but are things really 'Back to Normal'?
- The bond market does not think so, and seems to be presaging more drawdown to come.
- EM High Yield...
