ANALYSIS-Equity 'vol' vs credit mkt: Which do you believe?

An obscure corner of the stock market is giving strong warning signs even as the broader equity and corporate bond markets rally. Equity derivatives indicate that although the stock market is turning in its best monthly performance of the year, investors are still fretting about the potential for another drop.It’s not just equity options that are raising red flags. U.S. Treasury yields reached new lows last week, signaling investors are willing to accept paltry returns on safe-haven securities.