Credit conditions
HYG/TLT · One of the nine sensors MacroLens watches daily.
What it measures: Risky corporate bonds vs. safe Treasuries
How to read it: Rising = lenders relaxed about risky borrowers; falling = credit stress building
Why investors watch it: Bond investors ask the bluntest question — 'will I get paid back?' — and historically they smell trouble before stock investors do
Currently neutral — held 6 trading days. Credit and safety roughly balanced Last change: Jul 1, 2026.
What would flip this reading: This reading shifts toward a new trend as it crosses its 21-day average (0.928); today it sits 1.7% away.
Flip history
| Date | Change | Reading |
|---|---|---|
| Jul 1, 2026 | bearish → neutral | 0.93 |
| Jun 23, 2026 | neutral → bearish | 0.927 |
| Jun 9, 2026 | bullish → neutral | 0.935 |
| Jun 8, 2026 | neutral → bullish | 0.94 |
| May 27, 2026 | bullish → neutral | 0.939 |
History of state changes only — not a prediction, and not a claim about what followed. Data via Yahoo Finance.