The Stealthy Success of European High Yield

(Harvest) You might be surprised to learn that European high yield bonds were the top-performing credit market over the 10-year period ended August 31. In all honesty, some of us were, too. The development of the asset class in the years following the financial crisis, however, is impossible to ignore. We think European high yield bonds have earned a place as part of an investor’s strategic allocation, offering an attractive diversification opportunity marked by high hedge-adjusted yields, relatively low duration and robust market fundamentals in an improving macro environment.

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