This page illustrates a broad overview of the U.S. investment grade bond market. The left shows the spread over similar duration government bonds—a measure of how much investors get paid to take on the additional risk of investing in investment grade debt. Spreads have ticked up slightly given the outlook on global economic growth, however it is yet to reach levels which signifies heightened default risks. The right splits the historic investment grade returns into various components so we can see what has been driving this section of the fixed income market.