20th December 2021
M&G: What next for Global High Yield Bonds?
Despite the recent emergence of the Omicron COVID-19 variant, and stubbornly high inflation levels in many countries, the global economic recovery appears to be on track as we approach year end. In our view, this has helped underlying corporate fundamentals remain solid for many high yield bond issuers, backed up by record low levels of defaults as lending conditions continue to be accommodating. In this piece from the M&G Public Fixed Income team, we examine whether this could be encouraging news for investors seeking exposure to high yield bonds, or whether current valuations present a significant stumbling block for the asset class.
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