Bloomberg: Optimism that the central bank would support the market helped bring the option-adjusted spread to the stingy yields on comparable Treasuries down to 7.5 percentage points for the Bloomberg Barclays US Corporate High Yield Bond Index from as high as 11 late in March. Positive news on coronavirus and a supportive Fed might squeeze that to 614 basis points this month. Conversely, poor 1Q results and outlooks for high-yield issuers could blow it out to 951 bps or more.