Search for yield continues

English, Yield

The search for yield continues and the spread between the Barclays B rated US High Yield index and US treasuries narrowed to just 300 bps or a yield to worst of 4.9%. This is the lowest level since July 2007 for B rated bonds which sit just above the riskiest CCC debt. From a historical perspective spreads can stay at these levels for some time, however, the upside is limited.

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