The document provides an analysis of public and private credit markets, focusing on high grade and high yield mutual fund flows, credit spreads, and default rates. It discusses the impact of the 2008 financial crisis on credit markets, the role of the Federal Reserve, and the recovery trends in high yield and high grade spreads. The document also compares the credit situations of Greece and Uruguay, highlighting the differences in their economic conditions and debt restructuring approaches. Additionally, it includes a post-script on Fannie Mae and Freddie Mac, discussing their financial challenges and the impact of affordable housing goals on their portfolios.
documents/EFTA01165215.pdf
{}