European junk bonds are now trading at higher yield levels than equivalent US credits and, according to Bloomberg, more than 30% of European high-yields are trading at distressed levels – that's the most since 2003.
The easy money story of 2005-2007 was global indeed – and so is the aftermath. As European economies cool down and interest rates climb, bond buyers will continue to demand higher risk premiums.
Andrew Barber
Director
The easy money story of 2005-2007 was global indeed – and so is the aftermath. As European economies cool down and interest rates climb, bond buyers will continue to demand higher risk premiums.
Andrew Barber
Director
