Secrets of Finances and Payday Loans

A comparison of the sector structure of the Euro and US dollar corporate bond markets shows that the share of financials is much higher in the Euro market. While financial companies are somewhat cyclical, especially with respect to changes in the interest-rate environment, they are usually considered a rather defensive sector. The same holds true for the utility sector. Thus, it becomes very clear that the Euro corporate bond market as a whole is less exposed to the economic environment than the US market. However, we have not analyzed the industrial sector so far. Here, the picture is mixed. While the Euro market has a higher weight of automotive companies, the other cyclical sectors, such as basic industries, capital goods, consumer and services cyclical, media and technology, generally have a higher share in the US market.