Investors have become increasingly comfortable taking on corporate credit risk.
After the holidays, investors put cash to work.
Yield curve continues to flatten as rates rise.
China's weaker-than-expected sales and production results exacerbated already dour market sentiment.
Heightened tensions between the U.S. and China aren't helping.
While the equity markets rose, the corporate bond market continued to operate in a risk-off mode.
But falling oil prices have pressured corporates over the past month.
The U.S. Treasury market gave back the price gains it made the prior week.