Europe’s riskiest corporate debt has rallied to precrisis levels, mirroring gains in U.S. speculative-grade bonds, as investors seeking better returns pour money into a market that has seen a dearth of new bond sales. The spread, or extra yield above government bonds that investors demand to own junk bonds, has returned toward levels seen before the selloff in March on both sides of the Atlantic. In Europe, the spread tightened to 4.69 percentage points, the lowest since March 6, as measured by ICE Indices. In the U.S., the...

Source: Wall Street Journal June 09, 2020 15:22 UTC