credit spreads between us investment grade and us high
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Credit spreads between US Investment Grade and US High Yield have - PowerPoint PPT Presentation

Credit spreads between US Investment Grade and US High Yield have decoupled 230 950 210 850 190 US IG Credit Spread (bps) US HY Credit Spread (bps) 750 170 650 150 550 130 450 110 350 90 250 70 50 150 US Investment Grade (LHS)


  1. Credit spreads between US Investment Grade and US High Yield have decoupled 230 950 210 850 190 US IG Credit Spread (bps) US HY Credit Spread (bps) 750 170 650 150 550 130 450 110 350 90 250 70 50 150 US Investment Grade (LHS) US High Yield (RHS) Source: Bloomberg LP, BAML indices, 18 July 2018 BONDVIGILANTES

  2. Credit Spread Differential between US high yield and EU High yield 225 Credit Spread Differential (bps) 175 125 75 25 -25 Credit Spread Difference US HY - EU HY Source: Bloomberg LP, BAML indices, 18 July 2018 BONDVIGILANTES

  3. EM high yield investors have started to request a higher credit risk premium 650 600 Credit Spread (bps) 550 500 450 400 350 300 US HY Spread EM HY Spread Source: Bloomberg LP, BAML indices, 18 July 2018 BONDVIGILANTES

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