Liquidity Premium and IG Bonds The spread between low liquid and high liquid IG bonds is widening, despite the rally and the belief of an improvement in US-China trade tensions. Image: Goldman Sachs Global Investment Research
Corporate Bonds: IG Downgrade to HY and BBB Share of U.S. IG Market This chart highlights the resilience of BBB-rated bonds. BofA believes that there is little risk that IG ratings will fall to junk status in the next recession. Image: BofA Global Research
S&P 500 Equal Weight Index vs. S&P 500 (Price Relative) and U.S. 30-Year Bond Equity markets suggest new lows in bond yields. Image: BofA Global Investment Strategy
Stocks, Bonds, Foreign Exchange and Commodities Outperformance Stocks, bonds, FX and commodities outperformed in 2019. Image: Deutsche Bank Global Research
High Yield CCC-Rated Bonds Consumer-related and technology industries now represent more than one-third of CCC issues. Image: Arbor Research & Trading LLC
S&P 500 Index vs. U.S. High Bond Yield Spread Chart showing the current divergence between U.S. equities and high yield bond spreads, while they are generally correlated. Image: Jeroen Blokland
U.S. High Yield Bonds and Leverage Loans The pace of downgrades has accelerated in the U.S. leveraged loan market, despite declining interest rates. Image: Goldman Sachs Global Investment Research
U.S. 10Y-2Y Yield Curve and U.S. High Yield Bonds Chart suggesting that high yield prices are not likely to perform well. Image: Morgan Stanley
High-Yield Bond Returns Year-to-date, Caa rated high-yield bond returns have lagged those with higher average credit ratings. Image: Charles Schwab
Sovereign Bonds with Negative Yields This chart puts things into perspective by showing the share of developed market sovereign bonds with negative yields (1-10 year maturities). Image: Credit Suisse