Yield evaluation using median spread curves: Jerry Tempelman column

Judging whether high yield debt is fairly valued can be done using median spread curves.

Jerry Tempelman

How far have financial markets recovered from the shellacking they took in 2008? One way to answer the question is to say that corporate credit spreads have narrowed from their highs set in December 2008, but not all the way back to their lows of May 2007. Then again, the early 2007 levels reflected froth and euphoria in the credit markets, and should perhaps not be expected to be reached again for some time.

Another way of approaching the question is to look at the shape of median credit spread

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here