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The current high yield bond market offers yields between 7.5% and 8%, which appears favorable compared to historical averages, especially considering the significant rise in quality of issuers in the past few years. Post-COVID, many companies that previously held investment-grade ratings have since downgraded to high yield, leading to a market with a higher percentage of double-B rated bonds. The discounted prices at which many high yield bonds are trading provide investors with potential for even greater returns if the bonds are held to maturity or refinanced favorably. Overall, the combination of current yields and improved issuer quality makes high yield bonds attractive to investors seeking stable returns.