With the fallout from bank failures being felt throughout the financial system, borrowing costs for "high-yield" bonds (aka junk bonds) jumped in mid-March 2023 (US News & World Report, Yahoo Finance, Investopedia). The outcome will be determined using Intercontinental Exchange (ICE) data as reported by the Federal Reserve Economic Data (FRED) database for "ICE BofA US High Yield Index Option-Adjusted Spread" (FRED). For 16 March 2023, the spread was 4.93%.

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