In years when the market is up 20%+ it’s clear equities have done well. In credit, what are the barometers that the market has done well? Is there a common credit benchmark index? Similarly, when pundits call for a bond market bear market because rates may only could higher from here, does that imply a bear credit market too? I suspect no but wanted to understand why. As may be clear already, I know nothing about credit.
Thank you
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