Dollar Credit Is Less Appealing Than Euro Credit Due to Recession Risks -- Market Talk

Dow Jones

May 19, 2025

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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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) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 19, 2025 05:48 ET (09:48 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dollar Credit Is Less Appealing Than Euro Credit Due to Recession Risks -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDollar Credit Is Less Appealing Than Euro Credit Due to Recession Risks -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-05-19 17:48</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     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) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 19, 2025 05:48 ET (09:48 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4551","symbol_name":"寇图资本持仓","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2536789507","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2536789507","pubTimestamp":1747648080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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. 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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) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 19, 2025 05:48 ET (09:48 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}