Ken Orchard, co-manager of the $114m T. Rowe Price Diversified Income Bond fund, has said he is "not convinced" this is the time to be adding to US high yield despite strong technical factors and the rising oil price supporting the asset class.
Orchard (pictured) said he doesn't expect US high yield spreads to tighten from here against US Treasury yields as valuations compared to other fixed income asset classes appear expensive. US high yield...
Effective from 1 January
Industry Voice: Many investment portfolios that rely heavily on stock-bond diversification to manage risks may not be protected against inflation surprises. Real assets offer a solution.