The document discusses the challenges faced by high-yield issuers in the U.S. bond market, particularly due to decreased liquidity and low oil prices. It highlights the expected default rates and recovery rates for U.S. high-yield bonds and provides forecasts for U.S. and euro high-yield spreads by the end of 2016. The document also touches on the impact of low oil prices on investment-grade bonds and the broader economic outlook.
documents/vol00010-efta01459658-pdf.pdf
{"title":"CIO View Special - Americas Edition","key_people":["Gary Russell"],"document_date":"February 2016","document_type":"correspondence","key_locations":["United States","Eurozone"],"document_subtype":"financial analysis","key_organizations":["Deutsche AM","Deutsche Bank","Petrobras","Gazprom"]}