EFTA Document EFTA01458274

1 September 2015 Corporate Credit: Back to school - The edge of nomiality From a credit market perspective we tend to be more interested in oil based commodities and the industrial metals. Over the past year the oil price has had a particularly negative impact on the US HY Energy sector. As we can see in our often used chart in Figure 13 the recent move lower in oil prices, breaking through the $40 barrier for the first time since C11 2009 in August, had seen credit spreads in the US Ener