US junk energy is leading the market this year, but with spreads at their tightest since 2007, there's limited room for further gains. Leverage ratios have hit a low, and increased shareholder activity and potential M&A pose risks to debt.
While oil prices have dipped from 4Q highs, anything above $70 is still beneficial for high-yield producers. However, much of the profits may go to equity investors in the form of dividends and buybacks, rather th...