High Yield flying high
High Yield
Gauging the look of the high-yield market in 2006 may not be such a hard call to make, as consensus is that the year will develop along much the same path as 2005. The strong momentum has continued into the new year with the three-year downward trend in default rates continuing to provide good support for the market. In February, speculative-grade default rates hit a historical low of 1.8% globally, 2.4% in the US and a seven-year low of 0.5% in Europe, according to Moody's.
"We do not see any
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