First Eagle Plays Safe as Credit Spreads Get Squeezed

Debt spreads are set to tighten further as demand for yield rises and net supply remains constrained, according to First Eagle Alternative Credit, which is cautious about the year ahead. “You don’t see a lot of screaming value,” he tells Bloomberg News’ James Crombie and Bloomberg Intelligence senior credit analyst David Havens in the latest Credit Edge podcast, referring to leveraged loans, private credit and high-yield bonds.