CREDIT DAYBOOK AMERICAS: Investors Sanguine Ahead of Fed Meeting

Risk gauges for US corporate bonds are pushing toward levels not seen since early this decade, as markets appear at ease going into next week’s Federal Reserve meeting and what investors are betting will be the start of a series of rate cuts.

• A measure of perceived risk for investment-grade notes had its lowest closing level since Feb. 20 on Thursday while a reading for the high-yield market, which rises when fears ease, ended at a 10-week best
• US stocks hit record highs yesterday and Treasuries continued to rally as economic data bolstered bets of the Fed easing policy starting ...