A Rare U.S.-Europe Junk Bond Split Tantalizes Big-Money Funds
- Yield differential to U.S. ‘jumps out’ at PGIM money manager
- Outflows mean spreads to widen even further: Muzinich
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Europe’s high-yield bond market has gotten tantalizingly cheap, according to big-gun debt funds.
Money managers at JPMorgan Asset Management and PGIM Inc. who oversee about $70 billion collectively say it’s time to buy.