Chris Dillow 

A harmless gap

Chris Dillow

Chris Dillow
A harmless gap

Mid-ranked US companies are safer now than they have been for years. That’s the message of the corporate bond market. Yields on BBB-rated bonds have fallen below 3.5 per cent, which means they yield only 1.5 percentage points more than five-year Treasury bonds. This is the lowest spread since early 2007.

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