![Default risk still subdued despite escalating energy crisis](/sites/default/files/styles/teaser_image_max715/public/24_2022-09-08_Blog_Teaser.jpg.webp?itok=OARtWSXG)
Default risk still subdued despite escalating energy crisis
While economic uncertainty in Europe is building, the healthy cash balances and low refinancing needs of Europe’s high yield bond issuers make a spike in defaults unlikely, says George Curtis.