Global Corporate Bonds Rally With Asia at Strongest Since April

Corporate bonds extended a recent global rally in Asia, where dollar notes reached their strongest levels since April, as investors increase bets on a soft-landing for the world economy.

Yield premiums on the investment-grade securities were unchanged to 3 basis points narrower Tuesday, traders said. A contraction of just 1 basis point would put them at the tightest since April, a Bloomberg index shows. Credit-default swaps in Asia dropped at least 0.5 basis points. That would be a sixth day of declines, the longest such streak since December.

Spreads for corporate bonds globally had narrowed for a fourth consecutive session ...