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UBS Braces for Onerous Touchdown in US Credit score, Favors European Debt

Jan. 19, 2023, 3:43 PM

UBS Group AG is recommending traders to purchase European credit score over US debt amid indicators of misery within the US mortgage markets, cracks rising in non-public credit score and a probably extreme draw back threat in US high-yield debt.

“We acknowledge US excessive yield is best positioned — primarily on the shift in credit score high quality,” UBS analysts led by Matthew Mish wrote in a word on Wednesday. “Nevertheless, we nonetheless imagine credit score is heading for a tough touchdown.”

The riskiest corners of US credit score are already flashing some warning indicators for a tough touchdown, based on the analysts. An abrupt reversal in …

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