TwentyFour Asset Management

Our view on high yield defaults

Market Update

In his latest video, George Curtis, discusses our views on high yield defaults over the last few months and what he thinks we can expect in 2021.

TwentyFour Asset Management
TwentyFour Blog

Central Bank Liquidity Will Dampen Default Cycle

The European high yield market has shown remarkable resilience in the face of what will likely go down as one of the sharpest and most severe recessions in history. The benchmark iTraxx Xover index (a widely used proxy for Euro HY credit risk) has tightened from an intraday high of 730bp in March to 342bp earlier this week, a retracement of almost 75% from the January lows of approximately 200bp.

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