tag:blogger.com,1999:blog-7893349575961670167.post1214351910586122751..comments2023-11-02T11:20:19.844+01:00Comments on Research Ahead: Government bond yields are falling againD Pfaendlerhttp://www.blogger.com/profile/05694396568110987485noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7893349575961670167.post-56259189519399033192009-06-17T14:24:07.616+02:002009-06-17T14:24:07.616+02:00Yes, credit spreads are likely to widen and lag th...Yes, credit spreads are likely to widen and lag the performance in Bunds/USTs. However, I would assume that the likely widening in spreads will not be of such an indiscriminate nature (and not as pronounced by far) as following the Lehman collapse which saw spreads of any credit product blow out sharply. I would rather assume that we see an increased discrimination between industry segments, depending on the overcapacity in a given industry/the outlook for demand etc. So my guess would be that for example utilities hold in much better than lets say autos...(whereas both widened sharply during autumn).D Pfaendlerhttps://www.blogger.com/profile/05694396568110987485noreply@blogger.comtag:blogger.com,1999:blog-7893349575961670167.post-13977759524310431182009-06-17T14:16:03.023+02:002009-06-17T14:16:03.023+02:00I concur. We will be seeing lower yields again, p...I concur. We will be seeing lower yields again, possibly, as you imply, at the expense of the credit spreads, who may not follow the yield move down one to one.Guido Barthelshttps://www.blogger.com/profile/08626983132134899421noreply@blogger.com