Did Deutsche Bank's Junk Bond Firesale Just End The Party?
Tyler Durden
Jun 7, 2018
1 min read
"And finally, adding one more straw to the irrepressible credit bid camel's back is news that Bloomberg reports Deutsche Bank is seeking to sell its portfolio of non-investment grade energy loans, worth about $3 billion, according to people with knowledge of the matter."
"So to summarize: Moody's is warning that when the economy weakens we will see an avalanche of defaults like we haven't seen before; Corporate debt-to-GDP and investor risk appetite is reminding a lot of veterans of previous credit peaks; and now the most desperate bank in the world is offering its whole junk energy debt book in a firesale... just as high yield issuance starts to slump."
3 Minute Video From Margin Call:
Comments