Navigating the ‘riskiest portion’ of the US high yield market

“An overweight allocation to weak B-rated and CCC-rated credits is warranted based on global investors’ ongoing search for yield.” In Investment Week, Rob Cignarella, head of US high yield at PGIM Fixed Income, explains how he is navigating the ‘riskiest portion’ of the US high yield market and why he sees a low probability of a US recession in 2020.

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