Credit investors are getting comfortable with historically tight yield premiums on corporate debt—the narrowest we've seen in nearly two decades. What's driving this appetite for lower returns? A surprisingly resilient economic backdrop. As traditional markets price in stable growth, this shift signals how institutional money is reassessing risk across asset classes. For traders paying attention to macro trends, this compression in credit spreads reflects broader confidence (or complacency, depending on your view) about near-term economic stability. Whether this optimism holds—or how it might ripple into alternative asset classes like crypto—remains a key variable worth watching as markets navigate whatever comes next.