vels, spreads in are about 65bps wide to respective debt/EV readings, or equity valuations adjusted for leverage. IFguie 2: US HY Issuer spreads vs Debt/Enterprise Ratio, combined for the market, total-debt weighted 700 650 600 550 500 450 400 350 300 250 43 Source Dann lane 48 y = -1.112%2+ 131.54x - 33