The U.S. high yield bond market has grown substantially to around $1.3 trillion today. At the same time, the global high yield market has become more geographically diverse. North America’s share of the market has fallen from 87.1% in 2005 to 62.6% in 2016.
US gross domestic product (GDP) growth hasn’t been as strong as one would expect at this stage of an economic recovery, still slogging along at a measly 2% rate. But “things are not always what they seem,” and beneath the low headline growth rate lies an economy that’s more potent than GDP stats would indicate.
