Credit spreads are a useful monitoring tool, but a poor timing signal. Investors who tried to position defensively the moment spreads began tightening in 2023 left significant return on the table.

iShares Broad USD High Yield Corporate Bond ETF offers a ~7% yield, but only 1–2% is true compensation for credit risk. USHY’s current ~300 bps spread reflects a benign credit environment, leaving ...

While equity markets have run hot and cold, high-yield bonds have been steady performers over the past 12 months. Corporate fundamentals remain sound despite recent softening, both in the US and ...

for high yield bonds to $300 billion, from $225 billion, JPMorgan strategists revised their spread target to 375 basis points from 450. For high yield bonds, that would suggest a yield of 7.5% and a ...

The yield advantage on corporate and high-yield bonds has been narrow for some time—a sign that economic conditions support corporate borrowing. The war in Iran sparked a widening of yield spreads ...