You see such action in U.S. Steel, Alcoa AA , Energy Transfer, General Electric GE and Ford Motor F – all under $10 paper, but with few friends. Welcome darkest before dawn kind of plays that include Energy Transfer, Williams and Teva but not General Electric, Ford, Macy’s M , U.S. Steel and Alcoa. You pay and pay if entry points are too high. Another 30% rests in ragamuffins like Halliburton, Freeport-McMoRan, Teva, Williams, Energy Transfer and Enterprise Products Partners EPD . The spread between high-yield bonds and 10-year Treasuries is now 425 basis points, an attractive entry-point for so-called junk.

Source: Forbes June 18, 2020 18:33 UTC