![European high yield makes strong start to 2024 with default rates lower than expected](/sites/default/files/styles/teaser_image_max715/public/2024-01/15.01.24%20Blog_Teaser.jpg.webp?itok=yQdnydpH)
European high yield makes strong start to 2024 with default rates lower than expected
Last year saw returns in European high yield (HY) of approximately 12%, driven by tighter spreads (-102bps) and lower government bond yields (five-year bunds were -59bps).