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Guy LeBas observes that investment grade credit spreads have nearly returned to their tightest levels seen in 4Q2025.
He points out that these spreads are now in the 8th percentile of all historical observations, indicating relatively tight market conditions.
LeBas previously highlighted how data centers contributed 1.4% to U.S. GDP growth in the first quarter. He also commented on global interest rate volatility following unexpected political developments in the UK. His observations offer recent context on factors driving both credit and broader market conditions this year.