In this article, the economics team at fixed income specialists Payden & Rygel takes a deep dive into high yield bonds and examines the investment case for investing in this asset class.

Are bonds dead? With US Treasury yields hovering near generational lows and some developed sovereign bond yields in negative territory, investors wonder: What’s the point? However, what if we showed that you could generate equity-like returns with bonds?

You may have heard the term “junk bonds” used to describe high-yield bonds, but we hope you will see this asset class in a new light by the end of this article. We believe high-yield bonds could be a part of most portfolios.

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