The bullish market momentum in the credit markets, which has pushed credit spreads or risk premiums, down sharply over the past few months, could be about to stall, according to new research.

Since the start of the year, almost all new corporate bonds that have been sold in Europe have seen their prices rise and yield-spreads fall in the secondary market on the back of bumper investor demand. By comparison, prices would ordinarily fall and yields rise on weak investor demand.