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Cracks Spread & High-Grade Crumbles

Feb.28 -- Fears about the coronavirus shut out almost all borrowers looking for fresh cash and hammered credit markets across the globe this week. For U.S. investment-grade bonds, yields relative to Treasuries jumped 17 basis points, putting them on pace for the biggest weekly increase since 2011. Euro high-grade spreads widened the most since March 2015, while Asian dollar bonds were on track for the worst week since 2014. Bloomberg's Jonathan Ferro sat down with SocGen's Subadra Rajappa, Crossmark's Victoria Fernandez and Mike Schumacher of Wells Fargo to discuss the brutal week in global credit markets.