Episode 44: What’s next for the Fed and the high-yield bond market?
The Investment Intelligence podcast by Allianz Global Investors
00:00
High Yield Leverage - What Does That Mean for New Issue Opportunities?
Companies took the debt in 2020 more as a quote unquote insurance policy rather than a need to invest. High yield leverage peaked in the fourth quarter of 2020 at 6.13 times leverage and now it's rapidly fallen to 4.4 times leverage. So you still have more deleveraging to happen either from cash flow generation internally or prioritization of repaying this debt that is now finally becoming callable.
Transcript
Play full episode
