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New high for CCI, new low for OAS

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Credit conditions remain favorable, as broad indexes like the NDR CCI and the NACM CMI are close to record levels. Low credit spreads are emblematic of risk-on behavior and are associated with rising bond yields and small-cap outperformance. Risk rally has more to go as most of our credit indicators do not show signs of weakness.

Ned Davis Research | Fixed Income | Focus | Bi-Weekly

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