The party’s almost over, Societe Generale strategists say.
A strong earnings recovery and a growing economy have fueled investor interest in buying risky corporate bonds this year.
Societe Generale’s credit strategists see 2018 as a transition year for the credit market, when the low-yield environment that has driven some investors into riskier credit instruments would start to turn.
“We expect 2018 to see the last of the good times, with very positive conditions early in the year,” said strategists Juan Esteban Valencia and Guy Stear.
