We are underweight European credit and sovereign debt
amid tight spreads and improving growth.
At the same time, we are neutral on U.S. credit
amid tight spreads and increasing sensitivity to rate rises, and prefer up - in - quality exposures.
We prefer an up - in - quality stance in credit
amid tight spreads, low absolute yields and poor liquidity.
We are underweight European credit and sovereign debt
amid tight spreads and improving growth.