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sd-10-EFTA01459658Dept. of Justice

EFTA Document EFTA01459658

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CIO View Special hmt.art*torel Fatuity 2016 2 Among high-yield issuers in the United States, "riskier credits have an increasingly difficult time raising money in the bond market ", notes Gary Russell, High-Yield Portfolio Manager at Deutsche AM. "The decrease in liquidity combined with the low oil price has increased the expectations of defaults in the market." An additional negative factor are low recovery rates. According to Deutsche Bank research, the market may currently be pricing

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Dept. of Justice
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sd-10-EFTA01459658
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