Tough months ahead for junk debt: PMs
High-yield credits are poised for months of turbulence as investors demand more compensation for their risk amid rising borrowing costs and as commodity prices and economic growth moderate across the region. This comes at a time when fund managers are growing more sensitive to the hazards of investing in emerging market high-yield debt, following last November’s high-profile bankruptcy – the largest in Latin American history – of Brazilian oil firm OGX. “This case in a relatively short period of time will establish how much of a premium one should ask...
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