0948 GMT - U.S. dollar-denominated credit looks less attractive compared to euro-denominated credit due to tariff-related recessionary risks in the U.S., Candriam's Nicolas Jullien says in a note. "Despite Europe's high sensitivity to global trade conditions, we are less comfortable with the level of risk priced into U.S. credit," he says. Risk premia in U.S. investment grade are nearly identical to levels within euro-denominated credit, while recessionary risks "are a clear danger." Additionally, U.S. blue chip companies Ford, Boeing, and Warner risk credit rating downgrades, moves that could drive a selloff in U.S. high-yield credit, says Jullien, who is Candriam's global head of fixed income. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
May 19, 2025 05:48 ET (09:48 GMT)
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