Average Triple B spreads squeezed into new post-financial crisis lows of 137bp over Treasuries Thursday, according to Bank of America Merrill Lynch data released Friday.
That’s the second time this week that spreads in the bracket have broken previous tights, according to IFR data.
Overall, at T+108bp, US high-grade bonds are now just 2bp away from their post-crisis tights reached in June 2014.
Some sectors also set record post-crisis tights Friday with bank and insurance spreads now at T+94bp and T+116bp, respectively.