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    Yukyung Choi

    Yukyung is a member of the research team within the Credit Risk Analytics Group at Moody’s Analytics. She focuses on research projects related to fixed income and equity strategies for buy side and other clients. She contributed to developing the CreditEdge Alpha Factor and the firstEDF-based ETF launched by Ossiam. Her expertise is also utilized on other CreditEdge customized projects pertaining to asset managers. In addition, Yukyung is a co-author of various practical research papers. One of her papers was published in the Journal of Fixed Income. Before joining Moody's, Yukyung was at Lehman Brothers as a fixed income strategist in the asset allocation group.

    Yukyung started her career as a macro strategist at a pan-Asia hedge fund. She has an M.S. in Statistics from Columbia University.

    Expertise
    solutions
    Moody's Analytics | Credit Modeling

    Credit Risk Modeling: Moody’s Analytics delivers award-winning credit models and expert advisory services to provide you with best-in-class credit risk modeling solutions.

    Moody's Analytics | Operational Risk Audit Compliance Training

    Portfolio Optimization: Quantify diversification benefits across portfolios and define risk types that inform risk management and active asset allocation decisions.

    Published Work
    Article

    Weekly Market Outlook: Return of Christmas Past Does Not Impend

    More than 20% of the European Union's population is at least 65 years of age. Partly because of an unprecedented aging of the EU's slowly growing population, the average annual rate of economic growth for the EU has slowed from the 2.7% of 2004-2007 to the projected 1.2% of 2019-2020.

    December 2019
    Article

    Weekly Market Outlook: Next Plunge by Profits to Drive Leverage Up to 2009 High

    U.S. business activity has not been exceeding its reach, and that will help extend the long-lived bull market and record-long economic recovery.

    November 2019
    Article

    Weekly Market Outlook: Equities Advanced for 95% of the Yearly Declines by High-Yield Bond Spread

    The market value of U.S. common stock has been setting new record highs. However, U.S. corporate credit spreads for both bonds and loans have yet to approach their lows of the current business cycle upturn, never mind their existing record lows.

    November 2019
    Article

    Weekly Market Outlook: Improved Market Sentiment Is Mostly Speculative

    The dreaded inverted yield curve is gone, but perhaps not for long. Following October 30's paring of the federal funds rate's midpoint to 1.625%, the fed funds rate is less than the recent 1.68% 10-year Treasury yield for the first time since May 2019.

    October 2019
    Article

    Weekly Market Outlook: Loans Impart an Upward Bias to High-Yield Downgrade per Upgrade Ratio

    The credit rating revisions of loan-only high-yield issuers reveal a higher frequency of rating downgrades compared to issuers with outstanding high-yield bonds.

    October 2019
    Article

    Weekly Market Outlook: VIX, EDF and National Activity Index Go Far at Explaining the High-Yield Spread

    There is no one way of statistically explaining the bond yield spreads of high-yield corporate bonds. However, one of the better approaches employs a multi-variable regression model and generates a highly significant adjusted r-square statistic of 0.89.

    October 2019