Which Market is Right? US Corporate Junk Bond Yields that Project a No Risk Environment or o/n Repo Markets that Project Enormous Financial Systemic Risk

Currently, certain metrics used to predict future financial behavior are projecting two wildly different outcomes of enormous financial systemic risk and virtually no financial systemic risk in US markets. In a recently published article on this financial blog, I spoke about how overnight repo and reverse repo market trading volumes were indicative of h…