spreadhead, the final and the week ahead featuring comments from the fed'd jay powell and the u.s.report. this is "bloomberg real yield." ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." it is time for the final spread. china's financial markets closed all the due to holidays. jay powell and theresa may speak. on friday the jobs report just around the corner as we wrap up the end of september and the third quarter. still with me is diana amoa, scott thiel and colin robertson. london as we wrap up the quarter. this is a really interesting quarter for credit and an interesting year for credit in the united states. high-yield really outperforming. scott: it is interesting to note if you look at the ratings structure and the high-yield market, the lower quality, the triple c's are now double b's. it has really widened relative to i.g. that is obviously consistent with economic -- positive economic activity, payable financing rates, stock by that's -- stock buybacks, etc. that's an interesting divergence between em market in the high-yield em market. jonathan: this is wh