07/10/18

Europe's Junk Bond Bubble Has Finally Burst



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Europe's Junk Bond Bubble Has Finally Burst
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Earlier this week, the euphoria over US junk bonds hit new post-crisis highs when amid a sharp slowdown in supply, a rise in the oil price and generally solid economic conditions, insatiable buyers sent the Bloomberg Barclays Corporate high yield spread to the lowest since before the financial crisis, dropping as low as 303bps, the tightest level since late 2007 before drifting somewhat wider during the late week bond rout.

Yet while the US high yield ....

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