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Credit Approaching Critical Juncture

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Credit is presenting a mixed picture. It held up reasonably well last week amid weaker equities. On the positive side, the CMI hit its best level since 2004 and breadth momentum remains favorable. On the negative side, funds are running down cash levels, outflows and volatility have increased, and the sustainability of global growth has been questioned.

Ned Davis Research | Fixed Income | Focus | Bi-Weekly

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