Europe's junk bonds see greater losses from Brazil than China
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EUROPEAN investors focused on risks from China to the east should also be looking west.
More than half of the region's worst-performing junk bonds in euros over the past year were sold by companies with operations in Brazil, exceeding those with even indirect exposure to China, according to data compiled by Bloomberg. Bonds sold by French retailer Casino Guichard-Perrachon SA and Spanish engineering firm Grupo Isolux Corsan SA, both with links to Latin America's largest economy, are among 10 billion euros (S$15.5 billion) of securities with the biggest losses.
