It is hard to miss the news: the stock market has been on a bit of a roll lately. But with far less fanfare, the credit markets, where the financial crisis began, are also showing signs of a spring awakening. Companies with good credit are borrowing more money in the bond markets. Confidence in the banking industry seems to be returning, despite the daily ups and downs of financial shares. Even junk bonds, the high-risk corporate debt instruments, are luring brave souls again. The revival is tentative and, like the gains in the stock market, which pulled back on Monday, it may well prove fleeting…All of which is welcome news for consumers, companies and the broader economy.
By Jack Healy, April 7, 2009 WSJ

Link to article