As a professional bond manager glued to a screen watching prices every day, it's hard to fathom that just a few weeks ago when March began corporate bond spreads were below historical averages¹. Flash forward, through what seemed like an eternity at the desk (or home office!), and those spreads have rocketed higher than any levels we've seen, excluding the months immediately following the collapse of Lehman Brothers. The pace of the one-month rise in spreads was faster than any the market has ever seen, including the Global Financial Crisis. We've gone from ho-hum in