Michael A. Gayed says the macro backdrop may now favor credit rotation. He cites past stress signals, including the S&P 500’s 19.35% Q4 2018 drop and high-yield

BWB News TV • 2026-11-13 21:02 UTC • By Billy Odell Tucker-Robinson

Michael A. Gayed says the macro backdrop may now favor credit rotation. He cites past stress signals, including the S&P 500’s 19.35% Q4 2018 drop and high-yield spreads at 343 bps, as risk conditions shift.

Share this article

𝕏 X / Twitter Facebook LinkedIn WhatsApp

📚 More from Billy’s World

📰 Banking With Billy News All breaking financial news & market analysis 📚 Banking With Billy Books Deep-dive books on every financial story 💬 Join the Community discord.gg/VHxwmR5j4Y 🎥 Banking With Billy on YouTube Live streams & market commentary

Banking With Billy News Network — bankingwithbilly.com
Discord: discord.gg/VHxwmR5j4Y • YouTube: @BankingWithBilly