Trump Win Boosts Demand for Credit, With Spreads at 1998 Low [Yahoo! Finance Canada]
Bank of America Corporation (BAC)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Average US investment-grade bond spreads, the extra yield over US Treasuries that investors get paid to hold riskier debt, narrowed two basis points to 75 at Thursday's close, according to data compiled by Bloomberg. That's the tightest level since May 1998. “Spreads haven't been this low in the career of most professionals,” said Andrew Hofer, head of taxable fixed income at Brown Brothers Harriman & Co. Junk spreads, meanwhile, reached a three-year low of 265 basis points on Wednesday, before retracing a bit to 267 basis points on Thursday. The growing exuberance stems from hopes that Trump will cut corporate taxes and reduce regulation. On top of that, yields have climbed since late September, boosting demand from yield-driven investors like pension funds, while giving companies less incentive to sell bonds now. While concerns that Trump's policies may reignite inflation have pushed up bond yields over the last month, investors for now are seizin
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