After hitting intraday record levels this morning, US equity markets sold off and Treasury yields tightened amid news of escalating violence in Iraq, causing investor concern over the stability of the global recovery. The high-yield market held in well despite the sell-off, as investor demand remains strong for the asset class, holding steady and record yield levels on the day. Four deals priced today for $3 billion in proceeds as the primary market shrugged off any geopolitical risk to have its busiest issuance day in the last four and push the week’s total issuance to just under $4 billion.