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Maturing fast This year, non-investment-grade debt will be more important to European fixed-income investors than ever before. A lesson of last year was that investors have to take Europe’s M&A boom into account. Many eurozone investors lost money in 1999 by trying to be conservative and sticking to top credits only. Having discovered that caution doesn’t always equal prudence, the buyside is showing a new surge of interest in lower-rated credits, including high yield. |
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