Will the Credit Spreads Continue to Blow Out?

Bonds collapsed, right like to me, it's all about the relative move. And one of the big kind of secondary canaries in the coal mine is when do the credit markets start to price in real credit risk? For a lot of these lower teer companies, a the represent default risk. I usually see the credit spreads like this have their blow off and the credit markets calmed down when you have a more meaningful bottom. The bigger question now is will we see these credit spreads blow up to ten % or more before we ultimately see the bottom of this recession bear market.? Well, i think it's very likely that they will. Patrick.