10-Year Yield vs. LPL Research's Year-End High
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Chinese Yuan Per U.S. Dollar (Right Scale)
Source: LPL Research, Bloomberg 11/16/18
New Orders of Nondefense Capital Goods (Excluding Aircraft)
High Yield Spreads (Left Scale)
Investment-Grade Spreads (Right Scale)
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The economic forecasts set forth in the presentation may not develop as predicted and there can be no guarantee that strategies promoted will be successful.
All investing involves risk including loss of principal.
All indexes are unmanaged and cannot be invested into directly. Unmanaged index returns do not reflect fees, expenses, or sales charges. All performance referenced is historical and is no guarantee of future results.
The High-Yield Spread data presented is the Bloomberg Barclay’s High-Yield Bond Index yield minus the 10 year US Treasury yield.
Yield Spread is the difference between yields on differing debt instruments, calculated by deducting the yield of one instrument from another. The higher the yield spread, the greater the difference between the yields offered by each instrument. The spread can be measured between debt instruments of differing maturities, credit ratings and risk.
The IG spreads referenced are from the Bloomberg Barclays US Aggregate Corporate Average OAS Index.
This research material has been prepared by LPL Financial LLC. To the extent you are receiving investment advice from a separately registered independent investment advisor, please note that LPL Financial LLC is not an affiliate of and makes no representation with respect to such entity.