Remember yesterday? When talking heads proclaimed the lows were in and due to the strength of energy stocks, this must mean the worst is over? And remember we - quietly - showed the massive divergence between crashing energy credit markets and the stocks on the day...? Well guess who was right?
Whocouldanode?
Credit vs Equity, crude collapse edition pic.twitter.com/qRGoaxQj2d [5]
— zerohedge (@zerohedge) December 9, 2014 [6]
Energy stocks have given up all yesterday's gains and are catching down to credit...
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As WTI trades briefly with a $61 handle and
[8]
Energy HY spreads break 900bps for the first time in history!!
[9]
Charts: Bloomberg
