2 See our commentary “High Yield in a Rising Rate Environment: Duration and Yield” for relative durations of various fixed income asset classes.
3 Acciavatti, Peter D., Tony Linares, Nelson Jantzen, CFA, Rahul Sharma, Chuanxin Li, and David Common, CFA. “2015 High Yield Bond and Leveraged Loan Outlook.” J.P. Morgan, North American High Yield and Leveraged Loan Research. December 5, 2014, p. 15-16.
4 Acciavatti, Peter D., Tony Linares, Nelson R. Jantzen, CFA, Rahul Sharma, and Chuanxin Li. “Credit Strategy Weekly Update.” J.P. Morgan, North American High Yield and Leveraged Loan Research. May 29, 2015, p. 1. Spread referenced is spread-to-worst.
5 Acciavatti, Peter D., Tony Linares, Nelson Jantzen, CFA, Rahul Sharma, Chuanxin Li, and David Common, CFA. “2015 High Yield Bond and Leveraged Loan Outlook.” J.P. Morgan, North American High Yield and Leveraged Loan Research. December 5, 2014, p. 5.
6 Based on the 12/31/14 and 6/4/15 5-year Treasury rates, source U.S. Department of Treasury.
This article was written by Heather Rupp, CFA, Director of Research for Peritus Asset Management, the sub-advisory firm of the AdvisorShares Peritus High Yield ETF (HYLD).