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.
Investors no longer felt the need to hide in U.S. Treasuries.
Turmoil in the equity market spurred a flight to safety.
Corporate credit spreads on investment-grade corporate bonds held steady and high-yield bonds backed off slightly.
Prices for Italian sovereign bonds dropped precipitously across the board.
As investors chased risk asset prices higher, bond prices in the U.S. Treasury market weakened.