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Audience

Are you being paid for the risk you take in Euro high yield?

12/09/2017

Yield levels in the European High Yield markets have been driven down to levels that can scarcely be considered 'high'. In the process, spreads are at, or approaching, the historically low levels witnessed prior to the financial crisis that began in 2007.

When the potential impacts of possible defaults are included it can make achieving attractive returns from high yield bonds challenging. However, there remains significant spread dispersion at issuer level so there are still opportunities to capture meaningful value in the market.

The value of investments will fluctuate, which will cause prices to fall as well as rise and investors may not get back the original amount they invested.

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