Subprime and corp bonds holders are holding the bag now, just like China is holding the US bonds. Fed is the cheer leader and too friendly to the market.
They will cover this up along with news outlet such as CNBC and WSJ. I bet the Fed meeting next week, they will pump out more smoke to easy the fear, then the market will rally to new highs by next Friday.
Unless you trade in/out the same day, it is better sit on the sideline.
BX is a genius, cashing out at the top, along with China's $3B locked in for 4 years.
