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High yield bonds rated CCC are still performing well, according to recent data from BondBloxx. In March, high yield bonds, especially those rated BB and CCC, showed positive results.
On Wednesday, Federal Reserve Chair Jerome Powell said that while interest rate cuts won't happen just yet, he believes cuts could be on the horizon. Powell added that he does not think the U.S. is heading toward a recession in the near term.
U.S. high yield has rebounded in the first half of 2023. This comes after experiencing the worst total return year — 2022 — since the great financial crisis.
Joanna Gallegos, BondBloxx Investment Management co-founder, and Sarat Sethi, DCLA managing partner, join 'Power Lunch' to discuss buying corporate debt.
Despite concerns about an economic hard landing and a spate of corporate debt downgrades around the world, junk bonds are performing admirably this year. The widely observed Markit iBoxx USD Liquid High Yield Index is higher by 5.87% year-to-date, as of August 10.
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