Specifically, close attention should continue to be paid to the following risks: U.S. protectionist moves and responses by its trading partners; developments in negotiations on the United Kingdom's exit from the European Union (EU); developments in crude oil prices that declined significantly from autumn 2018 to the end of the year; geopolitical risks; and deceleration in the Chinese economy.
Moreover, in the United States, the amount outstanding of leveraged loans (with financial covenants) extended to firms with low credit ratings has increased to about 1 trillion U.S. dollars.