ICYMI: The rolling 3-month ratio of leveraged loan credit rating downgrades to upgrades has just spiked to the highest level since the GFC…. Subprime auto loans blow up… M&A transactions drying up like it’s GFC or tech bust again.

ICYMI: The rolling 3-month ratio of leveraged loan credit rating downgrades to upgrades has just spiked to the highest level since the GFC. RM #DriehausAlts pic.twitter.com/PP15smgVev

— Driehaus (@DriehausCapital) October 26, 2019

tech pricing in a 2016-style rebound for 2020, but if that doesn't materialize — there will be trouble t.co/ooPEw92RBC

— Alastair Williamson (@StockBoardAsset) October 27, 2019

"Subprime auto loans blow up…60-day delinquency rate surged to 5.93% in August, substantially higher than during the peak of the Financial Crisis at 5.04% in January 2009" t.co/TmCJxMjESb pic.twitter.com/mXqUc9mNAP

— Trevor Noren (@trevornoren) October 26, 2019

M&A transactions drying up like it’s GFC or tech bust again.

A clear disconnect with stocks near all-time highs. pic.twitter.com/AMsEEJQ7Mr

— Otavio (Tavi) Costa (@TaviCosta) October 26, 2019

Goldman Says Rush From Stocks to Cash, Bonds Biggest Since 2008

The outflow from U.S. equity funds this year has been the biggest since 2008, relative to the flood of money into cash and bonds, according to Goldman Sachs Group Inc.That still leaves cash exposures “near historical lows,” according to Goldman strategists led by David Kostin. At 12%,