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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (15030)	6/8/2004 3:48:53 PM
From: Square_Dealings	Read Replies (2) \| Respond to of 110194

<Energy Department forecast of lower prices> a department of the same company that found WMD in Iraq... g. M

To: Crimson Ghost who wrote (15030)	6/10/2004 1:25:21 PM
From: russwinter	Read Replies (2) \| Respond to of 110194

For perspective the peak of this spread was over 1500 bps in fall of 2002. This is delayed four weeks, but put up as the spread chart is illustrative. bondtalk.com 11:41 AM May 13 SPREAD TALK: Speculative-grade credit spread widened 7.6 basis points yesterday, and has widened 47 basis points since Friday, with the S&P spec-grade index now about 61 basis points wider than the 40-month low reached on January 8th. The S&P spec-grade index closed at 798.9 basis points compared to 791.3 basis points the previous day, and 737.5 basis points on January 8th, which was the narrowest level since September 28, 2000 when it was at +736.4 basis points. The 2003 peak was 1284.5 basis points, compared to the 2002 peak of 1573.9 basis points. Spreads have been been widening ever since the FOMC removed the reference to "considerable period" in its January 28th policy statement and have begun to widen again as geopolitical anxieties increase. Nevertheless, despite the widening that is occurring due to expectations for future Fed rate hikes, current spread levels continue to reflect optimism about the long-term outlook for the U.S. economy.