Webinar: High Yield Strategy Covid-19
Wednesday 16, September – 10AM – 11AM – Webinar
High Yield Strategy Covid-19
Today’s webinar is about of the European High Yield market post Covid-19 crisis. The Covid-19 crisis led to the highest and most synchronized economic crisis ever seen in history. It shook and is still reshaping businesses even once considered as resilient to GDP decline, while offering some business opportunities to others. Central banks and Government supports in Europe were key to avoid a massive rise of default across European corporates. This translated into a material tightening of credit indexes and a strong primary market as investors have progressively priced the end of lockdowns.
Following the tremendous rally initiated late March, Spread Research’s view is that the market is now weighing the redemption of Governments’ liquidity measures to assess risks and pricing, while srutinizing industry trends for sectors the most affected by social distancing like Travel & Leisure. In depth liquidity assessment and quarterly forecast were key to identify the issuers not defaulting at the heart of the Covid-19 crisis. They were key to identify the best performing names in the rebound. This has never been more true now with today’s valuations, which seem not to fully factor challenges ahead on the liquidity front.
Head of Credit Research
Tel : +33 4 78 95 86 95