Hermes Investment Management: High Yield Investors Sweat for Return in Europe ‘Sellers Market’

Mitch Reznick, co-head of credit at Hermes Investment Management, comments on the declining covenant quality in the primary market for European high yield bonds. He notes in Bloomberg Markets that low-quality credit may also suffer if interest rates increase next year. This has led him to look for alternative investment opportunities in reverse-yankees.

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