Opportunities in High Yield Remain as Spreads Approach Historical Averages

By Adam Schrier, CFA, FRM, Director, Product Management, New York Life Investments U.S. high yield spreads reached 1087 bps on March 23 after hovering between 350-400 bps for the first six weeks of the year. Faced with a global health crisis and the ensuing economic shutdown, risk assets sold off...