Loan Market vs High Yield (60d)
L2 — IndicatorsUnavailable — null/missing value
What it measures: BKLN minus HYG trailing 60-day total return (adjusted closes) — leveraged loans cracking while HY bonds hold is the floating-rate/private-adjacent stress divergence
Threshold: > -1pp = in line | -1 to -3pp = loans lagging | < -3pp = loan-market stress
Current interpretation: Requires FRED/proprietary data feed for live computation
Full methodology for this signal is forthcoming — the write-up has not yet been published. The live reading above comes directly from the signal engine.
How it works
This signal's mechanism doesn't reduce to a standard diagram — read the methodology below for how it's constructed.
The history
Historical series being assembled — this signal has no archived daily series yet. The chart renders automatically once 60 observations exist; the live reading above is current either way.
Educational content. Not investment advice; past patterns do not guarantee future results. Signals identify regime environments, not exact timing or magnitude.