Here's your summary from Credit Cracks Are Quite Modest: Barings Kelly Burton (https://www.youtube.com/watch?v=wNxzT2dU2XY) on the Bloomberg Television channel:

### TLDR:

High yield bonds in sectors like cable media, telecom, and satellite are showing cracks, but overall distress ratio is low and defaults are manageable.

### Key Points:

1. High yield bonds in certain sectors are experiencing cracks, but distress ratio is low.

2. Market weight allocations to both investment grade and high yield are maintained, with expectations of spreads drifting wider.

3. Despite some small cracks, significant spread widening is not anticipated this year.

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