Credit portfolio managers remained concerned about central banks, China, energy and Brexit; they expect spreads to coto  continue to dog credit portfolio managers, who see spreads widening and defaults increasing the fourth quarter.

In a quarterly survey by the New York-based International Association of Credit Portfolio Managers, 57% of respondents indicated that they expect wider credit spreads in U.S. investment grade debt; a higher percentage, 70%, expect wider spreads on U.S. high yield bonds and leveraged loans.

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