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Fixed Income

High yield - an evolving opportunity

March 27, 2024

In this first of two videos, Shannon Ward discusses where high yield sits in the current fixed income opportunity as cash begins to come off the sidelines.

This video is only available in English.

Equities have outpaced cash after rate peaks

The new normal for equities in 2024

Past results are not a guarantee of future results

 

As at 30 September 2023. Returns reflect the average cumulative return in US$ terms over each of the first 12 months immediately following the last increase in the target US Federal Funds Rate (“last Fed hike”) over the prior four hiking cycles. The specific ending months for the periods included in the average calculations are: February 1995, May 2000, June 2006, and December 2018. Global equities are represented by the MSCI ACWI (with net dividends reinvested). Global Bonds are represented by the Bloomberg Global Aggregate Total Return index. Cash is represented by the Bloomberg US Treasury Bills 1-3 months total return index. Fed: US Federal Reserve. Sources: Capital Group, FactSet

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Past results are not predictive of results in future periods. It is not possible to invest directly in an index, which is unmanaged. The value of investments and income from them can go down as well as up and you may lose some or all of your initial investment. This information is not intended to provide investment, tax or other advice, or to be a solicitation to buy or sell any securities.
 
Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. All information is as at the date indicated unless otherwise stated. Some information may have been obtained from third parties, and as such the reliability of that information is not guaranteed.
 
Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.