BAML's High Yield Master II Index falls through 7%, and nears the record low level of 6.95% set...

|By:, SA News Editor

BAML's High Yield Master II Index falls through 7%, and nears the record low level of 6.95% set in 2005 (when it was just the ML High Yield Index). The 10-year Treasury yield was in the 4-5% range then, as opposed to 1.92% today, meaning spreads are nowhere near as tight now, meaning maybe, high yield still has room to run.