We are coming off a period of very narrow credit spreads. (cumber.com)
In low interest rate environments with narrow credit spreads, preferred stocks behave similarly to bonds. (indexologyblog.com)
Since credit spreads are one of the best indicators of economic confidence, with generally - widening credit spreads signifying declining confidence and generally - narrowing credit spreads signifying rising confidence, it would be logical if there were a positive correlation between the gold / commodity ratio and credit spreads. (tsi-blog.com)