Yannick Naud

I think we are bound to get to negative (transaction) yields eventually on these companies, investors are having to choose between a bank deposit rate that is negative and a company rate that is slightly less negative. The company may be the better credit risk, particularly if it is AAA-rated.

Many investors in the oil-and-gas exploration industry were there for the promise of dividends, today, with the oil price so low, many oil companies will have difficulty protecting their dividends.