May 17, 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.
Credit spreads still have room to tighten, but default risk remains elevated in certain sectors.
The relative calm we feel in the markets right now isn’t the end of the storm, it is just the eye.
Cooperation and understanding between China and United States is vital as global economic and environmental challenges mount.
Brian Smedley, Head of Macroeconomic and Investment Research, and Portfolio Manager Steve Brown share their outlook for the third quarter 2020.
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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