Forget About Junk Bonds, This Is the New Credit-Equity Disconnect Investors Should Be Watching

Can contagion spread to stocks?

Junk Bonds Yield Fears of Market Excesses

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The bond market is often dubbed the "smart money," with fluctuations in fixed income believed to portend broader market moves.

But in the case of recent carnage in junk bonds, the so-called smart money was actually the slow money, according to strategists at Goldman Sachs.