Weakening fundamentals in high yield create a dramatic uptick in fallen angels
A close eye on deteriorating corporate fundamentals
Jeff Mueller of Eaton Vance
The Covid-19 crisis and sharp fall in economic activity has led to deteriorating corporate fundamentals for many high yield issuers, which we think warrants close watching
We have seen a contraction across earnings, revenue growth and interest coverage, along with an increase in leverage. The key takeaway here is that fundamentals have weakened and that has contributed...
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