Into the Frying Pan… - High Quality Credit Spreads
Macro Horizons
00:00
The Resilients in Credit in a Severe Economic Slowdown
For the first time in 12 years, bond yields now above earnings yields. Some high yield buyers are moving into i g just as a way of d risking,. But that's probably not the primary driver of this resilience in credit. Thits going to short circuit a default down grade cycle, which we've been talking about.
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