European Collateralised Loan Obligation (CLO) funds face a bigger threat from falling credit ratings than near-term defaults, as fears grow that the impact of the US-China trade war could trigger a long-awaited downturn in the business cycle, investors said. Although the global economy is still growing, weaker second-quarter results from Europe's top blue-chip firms, including Europe's most valuable tech firm SAP, are already being attributed to the global trade war.
展开▼
