Default rates of tech, media and telecoms oriented European high yield bonds are rising and there is...
Default rates of tech, media and telecoms oriented European high yield bonds are rising and there is a lack of new issuance on the market, according to Barrie Whitman, head of European High Yield Bonds at Zurich Scudder Investments. He says: 'We are seeing the death throes of the lesser quality tech, media and telecom issues, which are being mostly downgraded or defaulting. Most of the damage has been done and the defaults we are seeing have been expected for some time.' Jim Leaviss, head of retail and institutional fixed income at M&G, agrees the rash of defaults is not a surprise an...
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