Episode 44: What’s next for the Fed and the high-yield bond market?
The Investment Intelligence podcast by Allianz Global Investors
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The Negative Impact of Interest Rate Risk on Fixed Income
If we see a re-prioritization and a continued prioritization of paying down debt, that should help check off that credit risk box. Liquidity risk could get worse if quantitative tightening surprises the market negatively. Getting 6% yields from the high yield market, 5% from double B's seems a lot more attractive than the mid-2s for government bonds.
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