Credit Risk Hasn't Joined the Bears Yet

Stocks decline with every uptick in credit risk. Credit risk is still at the lows. Thhe sell-off to this point is related to excess equity valuations/speculative bubbles. The Fed hasn't hiked yet, the 10-yaer is still very low in historical context. Assuming a capitualtion event in the days or weeks ahead doesn't kick off a credit event, it will be similar to the tech crash in March and April 2000. The appetizer for the bear market.