Continued weakness in crude oil prices has markets moving lower to open the new week of trading after OPEC discarded its strategy to limit production and support pricing. Oil is trading below $39 this morning, its lowest level since 2009. High-yield is opening with a quiet tone this morning, as energy credits continue to trade lower while the rest of the market is holding in fairly well on low volume. Treasuries are higher in early trading with the US 10-year note trading at 2.25%, for context the benchmark note traded in a range of 2.14% – 2.31% last week. Two new deals were announced this morning for Clear Channel and Kraton Polymers, both expected to price later this week.