One of our readers asked for help deciphering what was going on in the high-yield market. So we recruited Matt Fuller from our content partner, LevFin Insights.   

“From the perspective of high-yield investors,” Matt told us, “it’s a great time to be involved. We were pretty much shut down in March.   

Total volume was only $4 billion, which is very paltry. Zero deals for three weeks. That’s shocking, but one week shorter than December 2018, which marked the lowest volume since the GFC.  

“Then in April it came roaring back from $4 billion to $44 billion. That was the most activity since March 2017...