Problems in the credit market usually precede problems in the equity market. Ever since the bank failure wave in early 2023, ...

Credit spreads have rarely been narrower. As of late February, the Bloomberg High Yield Index Option Adjusted Spread (OAS) ...

This level is close to the lowest observed in the past decade. In contrast, investment-grade (IG) option-adjusted spreads (OAS) have dipped below 80 basis points (bp), also approaching a ten-year low.