This page considers some of the fundamentals of the U.S. high yield bond market. The left chart shows the maturity profile of the U.S. high yield bond index. The years of low interest rates allowed many high yield issuers to refinance their debt and push the maturity wall in the future. Lessening the need to tap into markets are rates rise. The right hand side shows the leverage metrics of high yield. Leverage remains low and interest coverage ratio high.