Download this article in PDF format
Vincent BOUCHET, Theo LE GUENEDAL
Theo LE GUENEDAL, Julien GIRAULT, Mathieu JOUANNEAU, Fréderic LEPETIT, Takaya SEKINE
The dramatic fall suffered by commodity and energy prices in July and August led to an almost automatic renewed underperformance of US HY bonds vs. their European counterparties. Furthermore, though US HY default rate is still low, the energy and metals & mining sectors are increasingly showing signs of stress and suffering from a growing number of credit events.
Head of Rates and FX Research