#highyield spreads have taken a break after reaching almost 6% in June. They’re currently close to 4% as the perception of a fed #tightening pause gains momentum. The stronger than expected jobs report on Friday, taken in isolation, however, may give the #fed the data aupport they need to raise 75 bps in September as opposed to 50, putting more pressure on the economy. Difficult to see further spread narrowing with more #ratehikes on the horizon.
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Source: Bloomberg
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