Global oil pact and Fed support boost junk-rated US bond market

FINANCIAL TIMES 🔒| Junk-rated US energy bonds rallied by the most in four years on Monday following measures to prop up credit markets by the Federal Reserve, as well as an agreement between oil-producing nations to drastically cut production. The average additional yield above Treasuries on low-rated energy bonds fell 1.16 percentage points on Monday to 16.21 per cent, marking the second-biggest daily drop on record for data going back to 2000, according to Ice Data Services. Movements on Tuesday were also positive in early trading.


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