Has the Corporate-Bond Boom Hit Its Top?

The transcript discusses the current state of the credit market, highlighting concerns about increased issuance, M&A activity, and leverage not supported by earnings. It examines the high yield market, noting the disparity between low-yielding companies and high-yield energy firms, and the risks associated with commodity exposure. The European bond market is analyzed, focusing on the ECB's influence and the issuance of long-duration bonds by countries like Spain. The potential for long-term bond issuance in the US is also considered, given the low interest rate environment.

What signs indicate a desperation for yield in the European bond market?

What potential actions might the US Treasury take regarding bond issuance in the current low-rate environment?