Bank of America: The Search for Yield Isn't Dead, It's Just Moved to Europe
Investors searching for yield will be a tailwind for U.S. corporate credit.
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Mario Draghi will be Corporate America's best friend in 2016, according to Bank of America Merrill Lynch.
Thanks to extensive monetary accommodation that has pushed returns on corporate bond in Europe to ultra-low levels, investors will have no choice but to search for yield across the Atlantic, the bank's credit strategists contend.