Correlation between Spreads and Rates

More negatively correlated for IG than HY?

OR

Only negatively correlated for IG?

“This observed negative correlation between high-yield credit spreads and government benchmark yield …” Credit strategies : “Section 2 credit spread curves”

Halfway through my studies for L3 realizing I should’ve just read the curriculum cover to cover instead of relying on Kaplan summaries. Thank you