Coming Week: Risky Business

The second wave of this year's credit crunch has crashed ashore.

Much was made of the fact that Friday's steep market decline came on the 20th anniversary of Black Monday, the day the Dow Jones Industrial Average plunged 22.6%. The coincidence certainly sets the market up for a nervous open Monday, but that's far from all investors have to worry about in the coming week. There are indications in the credit market that another round of unsettling action might be around the corner.

The bond markets won't be the primary focus of next week's action, of course. A convoy of big earnings reports is headed down the pike, with fan favorite Apple (AAPL Quote) due to report results after the market closes Monday. Later in the week, we'll see reports from AT&T (T Quote), Boeing (BA Quote), Motorola (MOT Quote), Baidu (BIDU Quote) and Countrywide (CFC Quote). ...