October 18, 2024 12:51 GMT
Spreads vs. Equities
CREDIT MACRO
Strong data out of the US and rates either holding flat (US) or rallying (bunds -10) was picture perfect for credit and led to some records being broken;
- $IG broke through a 19yr tight
- €IG broke through a YTD tight
- $HY YTD returns at 7.8% - running at the 3rd fastest pace in the last decade
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