For one, Kraft Heinz announced a trifecta of negative issues.
Weekly high-yield fund flows normalize after prior week's surge.
Corporate bond market runs out of steam midweek.
So far this year, investment-grade and high-yield bond indexes have outpaced government bonds.
The Morningstar Corporate Bond Index tightened 5 basis points last week.
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.