Here They Go Again—-Shale Junk Spreads Blowing Wider

As Bloomberg notes, citing CreditSights which cut the company to underperform, Weatherford and its peers face a slowdown onshore in the U.S., as well as lower oil prices. As a result, the whole oil and gas services sector is wider, especially the lower-rated bonds, with the Barclays High Yield Energy Index spread blowing out to 452bps, the widest since September 2017.