January 18, 2019
Here are the key takeaways from our latest High-Yield and Bank Loan Outlook report:
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Investing involves risk, including the possible loss of principal. Investments in fixed-income instruments are subject to the possibility that interest rates could rise, causing their values to decline. High yield and unrated debt securities are at a greater risk of default than investment grade bonds and may be less liquid, which may increase volatility. Loans are often below investment grade, may be unrated, and typically offer a fixed or floating interest rate.
Bond yields could fall further as rising fiscal risks get priced in.
A properly diversified credit portfolio should have exposure to both high-yield corporate bonds and bank loans.
The COVID Delta Variant’s Looming Threat to Risk Assets.
Brian Smedley, Chief Economist and Head of Macroeconomic and Investment Research, and Portfolio Manager Adam Bloch provide our macro and markets outlook.
Scott Minerd, Chairman of Investments and Global CIO, discussed his outlook for markets and the economy with CNBC’s Brian Sullivan during the Milken Institute 2020 Global Conference.
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