Andrew Harvie

The prevalence of ‘fallen angels’ has changed the composition of the European HY market. So how might we go about navigating it?

Covid-19 has obvious implications for companies’ cash flows and, consequently, their ability to return cash to shareholders (ie, pay a dividend).

Concerns around coronavirus have been felt in global equity markets for more than a month now. However, things escalated last week, with the steep sell-off in oil further compounding fear around the recessionary impact of the virus.