2020 altered the HY-universe. Fears of high levels of corporate defaults proved unjustified. Resulting landscape should be set for steady returns 2021
After a rollercoaster 2020 for European high yield markets, 2021 looks set to be more stable. Fears of high levels of corporate defaults have proved unjustified, allowing high yield to rebound in 2020 and setting the scene for the coming year. While the second Covid-19 wave, and the new variant, are weighing on recovery, once vaccinations bring the virus under control a degree of normality should return to the economy and high yield.
