Strange Stability in Credit Spreads

I’m not too sure what to make of this.

As readers of the glossary know:

The values of all three of these parameters has been oddly stable since early October – I have uploaded graphs for the taxable curve and for the non-taxable curve.

Frankly, I’m not too sure what the implications of such stability are, but I’m pointing it out as an interesting feature of the current market.

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