Tight spreads may suggest high-yield bonds are fully valued, but the story is more nuanced. Healthy corporate fundamentals, low default rates and a higher-quality credit universe continue to support the asset class, making disciplined security selection and income generation more important than ever in today’s market.

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Payden and Rygel

Payden & Rygel is one of the largest privately-owned global investment advisers. Founded in 1983, they manage fixed income and equity portfolios through domestic and international solutions.

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