INVESTMENT ADVISORY SERVICES: FEATURED ECONOMIC INDICATOR
Corporate Spreads Tightening
Corporate spreads, or the difference in yields on a corporate bond and a Treasury bond with a similar maturity, have generally declined over the past year. In part, this reflects strong overall credit conditions as the default rate in the year ended in August fell to 2.9% according to Moody’s Investors Services.
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PUBLIC FINANCE TRENDS
Low Rates Continue
The AA+ bank qualified (BQ) negotiated sale sold at approximately 30 basis points (bps) wider than the Aa1 BQ competitive sale as early as 2022
