Lehman favours bank cap bonds and high-yield debt
The bank advises bond investors to consider opportunities in Asian bank cap securities and high-yield credit.
Lehman BrothersÆ credit research team is recommending investors find opportunities in Asian bank capitalisation bonds and high-yield corporate debt, given an economic outlook for a æsoftÆ landing of the United States economy, with stable US interest rates, tight corporate spreads and the threat of leveraged buyouts in the corporate sphere.
This also reflects a view that Asian high-yield credit is relatively more attractive than high yield in America, says Pradeep Mohinani, senior vice president for Asia credit research at Lehman...
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