This page shows credit conditions using spreads on High Yield corporate bond’s on 1 year & 5 year chart.
Spread = Yield on a type of corporate bond – some treasury benchmark yield.
Increase in Spread means => tightening/deteriorating credit conditions. Note how SP500 (equities) selloff has been hand in hand with rising high yield spread.
High Yield grade bond spread 1 year chart
High Yield grade bond spread 5 year chart