Goal: detect rising credit stress ahead of equities. Perplexity: gather narratives on HY spreads, default cycles, bank lending surveys. Bloomberg: SRCH<GO> to list HY bonds, YAS<GO> for spread/yield calc; HP<GO> for OAS series; CN<GO> for downgrades; monitor MOVE index and CDS where available. Deliverable: traffic‑light dashboard (green/amber/red) with thresholds.
