On April 9, Morgan Stanley stated that the probability of an economic recession for stocks closely related to the U.S. economy has soared to nearly 80%. At the same time, despite potential funding pressures, credit product investors remain optimistic. According to Morgan Stanley's market-based economic recession indicator dashboard, the Russell 2000 index, which was severely impacted in recent sell-offs, currently reflects an 79% possibility of economic recession. Other asset classes are also sending warnings: the S&P 500 index shows a 62% chance of recession, basic metals indicate a 68% probability, and the 5-year U.S. Treasury bond corresponds to a 54% likelihood. In contrast, the investment-grade credit market is digesting only a 25% probability of economic recession, compared to zero in November last year. (Jinshi)