• The credit market is about to close for a few weeks for the annual Thanksgiving siesta
  • The seasonal lack of liquidity may make stocks more volatile, and possibly produce a panicky blowoff low in stock prices given the type of equity investor that has been selling recently
  • Indications are that the annual December corporate bond issuance surge will be a success, and will provide fuel to return stock prices to their highs once equity investor selling has crested

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