BONDDESK® | Rate Brief
Rate Brief 01-19-2015
- The high yield space has come under significant pressure during the second half of 2014.
- Weakness in the space has coincided with the sharp decline in the energy sector, which makes up ~15% of the BofAML High Yield Master II Index.
- The spread tumbled from near 785bps in October 2011 to 225bps in June 2014
- Six months of selling has produced a 50% retracement of the October 2011 to June 2014 move as trade has rallied back up to 515bps.