peak of $107 per barrel on June 20, 2014,
through Monday, December 8, 2014, we take
another look at the impact of lower oil prices
on the high-yield bond market.
Recent high-yield market weakness has
already accounted for a rise in defaults from
lower oil prices.
Even with weakness from rising defaults, we
believe high-yield bonds may outperform their
high-quality counterparts in 2015 due to their
existing yield advantage.