High Yield 4Q Investor Survey, Europe vs. US View: Credit Crunch

High yield credit had a strong year (to date), as yields rallied and spreads followed, while defaults didn't blow up as feared. In Europe, the index default rate stands at 2.7% and the US at 1.2% but the share of stressed and distressed bonds has come down. Will 4Q sustain those gains, and why? Listen to Mahesh Bhimalingam, Bloomberg Intelligence's Chief European Credit Strategist, discuss the results of the 4Q High Yield Survey, along with market outlook, with Peter Khan, Global High Yield Portfolio Manger at Fidelity Investments.

They discuss the BI 4Q investor survey report, which covers investor positioning, sentiment, key return drivers, default and supply forecasts and relative-value opinions by geography, rating and sector. They discuss deeply how high yield prospects differ between Europe and the US.