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Spread update—good news on the margin





Just an update to show that, as of last Friday, credit spreads had reversed about half of their recent widening. The scare that started in Euroland with the Greek debt crisis and threatened to spread to the U.S. economy is passing. Given the action in HY debt funds today (higher prices), it's a safe bet that spreads today were lower than is reflected in the charts. Good news.

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