The S&P 500 is currently just slightly below its all-time high, reflecting strong market performance. Investment-grade credit spreads have reached their lowest levels since 2005, while high-yield credit spreads are at their tightest since 2007, according to MarketDesk. This trend is driven by investor confidence in a 'soft landing' for the U.S. economy, spurred by Federal Reserve rate cuts and a robust economic outlook. The gap between corporate bond yields and U.S. Treasuries has also narrowed to its lowest in nearly 20 years, indicating tremendous demand for U.S. credit. Corporate high-yield spreads are essentially at 20-year lows.