NYU Stern’s Altman Sees High Yield Bond Correction (JNK, HYG), Plus Greek Contagion Risk (Spain and Portugal) Feeding Into Euro

Professor Edward Altman thinks a correction is near for high yield bonds. He also thinks it’s “even money” that Greece will default in 1.5 or 2 years and sees Greek contagion risk spilling into Spain, Portugal and other EU countries with high debt/GDP, deficits and unemployment. This will also mean tough times for the Euro.

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