Oil news: US energy-related high yield bond spread hits highest since 2016
|The US energy-related high yield bond spread has widened to 826 basis points, the highest level since 2016, Jeroen Blokland, Portfolio Manager for the Robeco Multi-Asset funds, Robeco ONE and Robeco Pension Return Portfolio, tweeted on Monday.
Back then, spreads had risen amid the sell-off in oil prices. The black gold had dropped below $30 in early 2016.
This time, however, the spreads are widening amid the rise in oil prices. For instance, WTI oil rose to $58.71 per barrel on Friday, representing a 15% rise on the low of $51.03 registered on Oct. 3.
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