“We see an increasingly good chance of the 10-year rising another [percentage point]over the next year or so, and [if that happens]you’d likely be better in shorter-term, lower yielding bonds,” added Lucas Turton, chief investment officer of Windham Capital Management.
PIMCO 0-5 Year High Yield Corporate Bond Index
Full disclosure: Tom Lydon’s clients own HYG and JNK.