High Yield

High-yield spreads remain near their tightest levels of the past two decades, showing no evidence of broadly higher credit premiums versus government bonds.

High-yield credit is signaling a Quad 1 environment, implying tighter spreads and a constructive near-term backdrop for $HYG.

High-yield credit spreads reaching new 52-week lows signal continued strength in credit markets rather than a reason to resist the move.

High-yield spreads are starting to widen after remaining narrow, signaling an emerging deterioration in credit market conditions into the week ahead.

Refinancing pressure will intensify for debt maturing this year and next, as loans priced before 2022 reset at far higher borrowing costs.

Credit downturns are exposing bad loans originated during the boom, suggesting underlying credit quality will deteriorate as previously overlooked risks surface.

$JNK below its 200-day moving average warrants realistic expectations, with concerns increasing if weakness becomes sustained and the trend slope rolls over.

CCC credit spreads will widen further as their more than 500-basis-point gap over fed funds signals distress spreading through credit markets.

Credit spreads could keep widening as rising interest rates make financing increasingly difficult for AI companies and undermine the investment thesis.

High-yield credit is vulnerable to renewed oil strength, with higher crude prices increasingly acting as a binding constraint on the risk trade.

Corporate bond spreads are likely to widen considerably as hyperscalers tap bond markets while raising equity, creating reverse crowding-out pressure.