Friday Chart Check: More High Yield Hijinks

Friday Chart Check: More High Yield Hijinks

Everything is most assuredly not fixed in HY energy just because oil prices are no longer scraping the bottom of the barrel (pun fully intended). The last time HY spreads and yields were where they are today, oil prices were between $80-$90/bbl, not $52-$55. As Jeff Gundlach put it earlier this week, the spread cushion in HY credit has all but evaporated. Well, for Friday's chart check, I thought I'd give you one more visual that speaks to just how overdone the HY rally is. Via Goldman: Dist
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