Alongside the swooning market, Credit default swap prices are popping higher, betting that a V-shaped recovery bends into more of an L, causing more companies to go bust.
Bloomberg: Contracts on the Markit CDX North America Investment-Grade Index, linked to 125 companies in the U.S. and Canada, jumped 4.5 basis points to a mid-price of 121.5 basis points at 9:42 a.m. in New York.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.