Q: What is the opportunity set in European Corporate Investment Grade (IG)?
A: The European corporate market refers to bonds issued in Euros, Sterling, Norwegian Krone, Swedish Krone and Swiss Franc from global issuers. In practice, the two main tradable corporate markets are in euros and sterling, with the euro-denominated market accounting for the largest proportion, representing about 75% of the European market. The market size of Euro corporate is roughly €1.8tn based on the Barclays Euro-Aggregate Corporate Index and the Barclays Euro Corporate High Yield Index. Nearly 85% of the European corporate market is investment grade credit with the remaining 15% made up of high yield bonds. In this Q&A, we focus on the euro denominated market.
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