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Principal Asset Management

2023 Top 500 ranking: 51

High yield bonds vs. leveraged bank loans: Is now the time to rotate?

High yield bonds vs. leveraged bank loans

Over the last two years, leveraged U.S. bank loans (“loans”) have outperformed their high yield bond counterparts; however, we believe this trend may be coming to an end. The relative outperformance of loans during this period was primarily a function of duration, or more notably in 2022, the ...

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