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.