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Up in Smoke? Brazil’s Wildfires May Affect Bond Spreads 

ESG Research , Fixed Income , Risk Management

Clearing Brazilian forests to make way for agriculture may generate a backlash to its soy and beef producers if purchasers impose deforestation-free requirements. What are the potential implications for investors in Brazilian corporate and sovereign debt?

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What’s driving high-yield spreads? 

Fixed Income

The recent trend in high-yield market spreads appears to relate more to concern about rising rates than the potential for credit losses. However, investors should be aware that the impressive recent performance of short-dated high yield bonds and floating-rate leveraged loans may be reversed if credit conditions begin to deteriorate.