I don’t know what exazctly is going on, but the issuing of corproate bonds has basically fallen off a cliff in the past few days:

The corporate bond market is in the middle of a slump as the appetite for riskier assets has once again dwindled.

No companies issued corporate debt on Friday — the day before Memorial Day weekend — and only five sold bonds the day after the long weekend, according to Dealogic, a financial analytics firm. The last time that happened on a trading day was Sept. 4, 2009 — the Friday before Labor Day weekend.

While this could be partially attributed to the Memorial Day holiday, the slump in corporate bond sales, coupled with rising prices to insure those bonds against default, could be signs that credit markets are tightening again.

I’m a cynic, so my guess is that the insiders know something, but I am not sure what.