A lot of investors have been concerned about the rise of corporate debt and this page aims to address some of the concerns. The chart on the left looks at U.S. debt levels relative to GDP across government, households and nonfinancial corporations. Households have delevered since the financial crisis, while the U.S. government and nonfinancial corporations have seen an increase in debt. The chart on the top right shows the percentage of Baa rated bonds, the lowest investment-grade bond credit rating, in the investment grade index is near all-time highs. At the same time, the duration of the investment grade corporate credit universe duration has also risen meaning that investment grade corporate bonds are more sensitive to movements in interest rates.