Yield Curve – U.S. 10Y-2Y Treasury Yield Spread and U.S. 2-Year Treasury Yield Does the flattening of the yield curve signal skepticism about the prospects for economic growth? Image: Morgan Stanley Research
U.S. Equity Implied Volatility and Credit High Yield Spreads U.S. equity implied volatility remains at relatively high levels. Image: Goldman Sachs Global Investment Research
Coronavirus – EM High Yield Spread The coronavirus pandemic has left credit spreads at distressed levels for a number of EM high-yield sovereigns. Image: Goldman Sachs Global Investment Research
High Yield Spread vs. U.S. Default Rate Current high yield spreads are predicting decline in U.S. default rates. Image: BofA Global Investment Strategy
U.S. High Yield Spreads vs. IG Spreads and Large Cap Growth Relative to Small Cap Value This chart suggests that new highs in stocks need high yield outperformance and sustained rotation from large cap growth to small cap value. Image: BofA Global Investment Strategy
Yield Spread (Baa Bonds – Utility Dividends) Chart suggesting that utilities are cheap relative to Baa bonds. Image: Morgan Stanley
High Yield Spreads – Implied Default Ratio vs. Moody’s Forecast High-yield spreads suggest a severe recession similar to the global financial crisis. Default ratio at 16.1% (12m). Image: Swedbank Research
High Yield Spread to Worst Is the panic over for high-yield bond investors, as global coronavirus fears intensify? Image: J.P. Morgan
10Y-3M Treasury Yield Spread After First Rate Cut and Recessions After the first Fed rate cut, a steepening of the U.S. 10Y-3M yield spread could suggest a recession is coming. Image: Charles Schwab
Yield Spread (Baa Bonds – Utility Dividends) This interesting chart suggests that utilities are currently cheap. Image: Morgan Stanley Research