Nearly half of IACPM members polled expect yield spreads to narrow on speculative-grade debt in Europe over the next few months, even as they express continued concern over the longer-term outlook for corporate defaults. "There are still a lot of underlying problems that are still unsolved. There are still some people who think that things will get worse," said Som-lok Leung, IACPM's executive director. Read more about the Credit Outlook Survey.

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