The document provides an analysis of high-yield (HY) credit spreads versus default rates in the US and Europe, along with a percentile chart showing the historical ranking of various credit rating bands in EUR, GBP, and USD markets. It highlights that USD credit spreads are approaching levels only seen during real crises.
documents/vol00010-efta01458272-pdf.pdf
{"title":"Corporate Credit: Back to school - The edge of nonnality","document_date":"2015-09-01","document_type":"tabular","key_locations":["US","Europe","London"],"key_organizations":["Deutsche Bank","Bloomberg Finance LLP","Mark-it Group"],"reference_numbers":["DB-SDNY-0118106","SDNY_GM_00264290","EFTA01458272"]}