Source: Reuters

In a marked change from the outlook at the beginning of the year, IACPM's quarterly Credit Outlook Survey now projects that credit spreads will remain unchanged over the next three months in the U.S. and Europe with a modest increase in corporate defaults over the full year. Noting a number of disturbing developments in the first quarter, among them the Cyprus fiasco, IACPM Executive Director Som-lok Leung said credit markets may be "just an event or two away from a reversal" of bullish sentiment.

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