UBS Thinks Junk Bonds Are Best Positioned to Withstand Geopolitical Storm
According to Bloomberg News, high yield debt in the United States is well placed to tide over volatility caused by the ongoing Russian invasion of Ukraine, as per UBS. On a note, strategists at UBS, Matthew Mish, say that the signs of distress are limited.
The US junk debt outperformed The biggest risk is that global investors exposed to Russia/Ukraine might have to sell US credit so that adequate liquidity can be raised amidst the outflows, according to UBS. Bloomberg News reports that US junk debt outperformed compared to Europe, Asia, and emerging markets, while the systemic risks are appearing to be contained, stated UBS in a note released late Wednesday. While interest coverage is at an all-time high, they have added that leverage is seen in the bottom quartile.
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