While the yield attractions of equities have rarely been so strong relative to bonds, it is undoubtedly right that a significant amount of commentary is currently devoted to record levels of net debt and shrinking dividend cover.
Favours EMD to mitigate rising rates
More risks in UK than Europe
European political fears are overstated
ECB's target was slightly below 2%
Inflation has overshot ECB target of 2%
Mike Della Vedova, portfolio manager of the T. Rowe Price European High Yield Bond fund, names five key metrics in the European high yield universe this year.