Is the price of risk too low today?

AlbaCore’s chief investment officer and founding partner David Allen crunches the numbers to see if investors are getting sufficiently paid in the riskier end of the credit market


In April, two CCC bonds priced in the European market in the same week for the first time since 2015. This led us to assess whether investors were getting sufficiently compensated for the risk at the bottom end of the credit rating spectrum. We started by looking up the three