HY rally may face trying times after September, say participants

By Victor Jimenez
10 Aug 2017

The European high yield bond market will enter the second half of the year in extraordinary shape, with average coupons at all-time lows and a surge of issuance. Can it get any better? Bankers and investors think not.

“There’s something beautiful about these markets in that different credits are priced at different levels, even if they have the same credit ratings,” said Steffen Wasserhess, head of non-investment grade and high yield syndicate at UniCredit. “Strong credits are rewarded with tighter pricings, hairier stories might have ...

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