All High Yield articles – Page 5
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White papersDefault Not in Our Stars
We don’t think tariffs will cause a major spike in high-yield and loan defaults, and that means current spreads and yields look attractive.
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PodcastTalking Heads – Generating income, protecting capital in bonds
Daniel Morris, Chief Market Strategist, sits down with Olivier De Larouziere, CIO of Fixed Income, to discuss some of the recent moves in global bond markets.
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White papersCorporate Hybrids. Subordinated Bonds, Superior Diversification
Corporate Hybrid Bonds offer a compelling diversification opportunity. Unlike CoCos, Hybrids exhibit lower volatility, stronger incentives for first-call redemption, and cash-cumulative coupon deferral, making them a more stable and liquid option. With imperfect correlation to CoCos, hybrids can further enhance portfolio resilience, especially amid market disruptions.
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White papersBond market volatility presents more opportunities for multi-asset investors
Central bank policy, rising geopolitical tensions and escalating concerns around the global macroeconomic backdrop have together caused considerable equity market volatility as well as a significant repricing in the fixed income universe.
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White papersFixed Income Perspectives Q2 2025
Quarterly macro and market insights from Capital Group’s fixed income team
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White papersFixed income update: Bonds reclaim role as a volatility buffer
High-quality bonds are an important portfolio diversifier in uncertain markets
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White papersHigh Yield’s Eye-Catching Spreads
We believe a yield advantage and improved credit quality make high yield worth a look.
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White papersM&A Renaissance. Exploring Fixed Income Opportunities
M&A activity, which is growing among IG and HY issuers, is driven by expectations of lower funding costs and a weak macroeconomic environment. This trend, which is set to strengthen, generates investment opportunities in new bond issues, often priced at a discount, to be evaluated with rigorous analysis to select the most promising opportunities.
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White papersHas US high yield been impacted by recent market volatility?
The US High Yield (‘HY’) market has so far demonstrated resilience throughout the current period of recent market volatility. For the HY asset class, a low, positive GDP environment can potentially offer a constructive environment. Short duration approaches should offer a nice balance of potential outcomes.
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White papersFive factors for long-term investors considering high yield
Since Covid-19 disrupted markets in early 2020, high yield has been one of the best-performing fixed income sectors. In fact, it has significantly outpaced the Bloomberg US Aggregate Index (and Global Aggregate Index), US corporate bonds, emerging markets bonds and securitised credit — and by a wide margin.
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White papersGerman Infrastructure: Catalyst for European High Yield?
We believe the new German government’s infrastructure plans have the potential to materially benefit the European high yield market.
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White papersFive factors to watch in multi-sector credit
While uncertainty remains high, the current macroeconomic environment has created a supportive backdrop for multi-sector credit, with yields likely to remain elevated as inflation lingers above central bank targets. Looking further out, our data suggest we should continue to expect positive growth and slowly falling inflation.
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White papersUnlocking the potential of European Leveraged Loans
We believe that in 2025 the European leveraged loan market will broaden its appeal to investors as a significant asset class to consider. While it has been well established in the US, it has grown significantly in recent years in Europe, with its market size currently close to that of the European high yield bond market.
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White papersThe M&A Resurgence: Finding Opportunities in Fixed Income
After years of limited activity, companies are looking for a chance to accelerate M&A, but the new administration and its policies will likely set the tone for dealmaking.
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White papersTariffs and European news fuel volatility
“Rising concerns for US growth amid high policy uncertainty have triggered a strong rotation outside of the US mega caps.”
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White papersLocal-Currency Frontier Bonds: EMD’s New Horizon
High yields, surprisingly low volatility and strong diversification benefits are attracting investor interest.
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White papersCredit markets remain appealing for income-seeking investors
2024 was the second consecutive very good year for global developed credit markets. Full-year 2024 excess returns show the outperformance of high-beta segments (riskier market segments which provide higher return potential) and EUR markets.
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White papersCan US high yield offer respite from the uncertainty?
After posting 8.2% return in 2024, the US High Yield market has proven to be very stable so far in 2025, despite various headlines with the potential to move markets on both the macro and geopolitical front.
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VideoThe state of fixed income in 2025
Michael Goosay - Chief Investment Officer, Global Fixed Income
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White papersCLOs: 4 Factors to Watch
CLOs look well-positioned in the current environment, particularly given their floating-rate nature, robust structural protections, and potential for incremental yield—but risks remain on the horizon.
