Canso 2004 Spring Corporate Bond Newsletter

“Low short term interest rates and a steep yield curve provide powerful incentives to boost leverage, undertake carry trades, and seek yield by going out the risk spectrum. There is a real risk of investor complacency in a low interest rate environment. An unanticipated spike in yields and volatility in the US treasury market could also trigger a widening of credit spreads in mature and emerging markets and encourage an unwinding of carry trades and leveraged positions” – International Monetary Fund Global Stability Report

Read the full newsletter at the link below.

Canso 2004 Spring Corporate Bond Newsletter

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