Inflation – PPI to CPI Spread vs. S&P 500

Inflation – PPI to CPI Spread vs. S&P 500 The spread between PPI and CPI is widening. This does not bode well for corporate profits. Image: Real Investment Advice

Stock Correlations with Treasury Yields and HY Spreads

Stock Correlations with Treasury Yields and HY Spreads The correlation between stocks and Treasury yields has broken down since the Pfizer/BioNTech vaccine announcement, while the relationship with HY spreads has remained stable. Image: Credit Suisse

Asia/U.S. High Yield Bond Spread

Asia/U.S. High Yield Bond Spread Asian junk bonds look attractive relative to U.S. junk bonds. Image: Morgan Stanley Wealth Management