“High-yield bond prices fall hard as the distressed loan pile grows and a squeezed consumer pushes defaults up while spreads sit at cycle-tight levels with no cushion left.”
“JP Morgan had their Default Monitor this week... this is the combined high-yield loan distressed universe. It's hit its highest level since June of 2023. If they can't figure out how to get policy rates lower, these things have a tendency to spiral.”
Prices are point-in-time snapshots from the named provider. The verdict compares the return since entry against the band above.