Fixed Income
High Yield Bonds

High Yield Bond Alpha

Published on
April 6, 2022
Contributors
RFPnetworks favicon
RFPnetworks editorial
Engagement & analytics
Subscribe

Trends newsletter

Get our insights on what asset manager selectors are reading. Delivered weekly.
Request successful. You will receive confirmation shortly.
Oops! Something went wrong while submitting. Try again.

High Yield Bonds had a tough first quarter in 2022 as investors computed the impact of 3 interconnected factors on the asset class:

1. Inflation

Current and expected inflation, in terms of input costs associated with the production and delivery of goods, and the provision of services.

2. Interest Rates

Central bank monetary policy, interest rate levels and expected rate rises. And the potential risk being discussed by multiple economists of potential policy mistakes by central bankers.

3. Geopolitical risks

Heightened geopolitical risks in both Europe and Asia and how that could translate into supply chain disruptions impacting critical production components (such as micro chips). In addition to the outlook for commodity supply and prices across energy, metals and agriculture.

However, despite negative 1Q22 total returns for the asset class, many investment managers that read the signs well, were able to find alpha in very specific niches, and attract the attention of the professional investor community.

Related Investment Trends

High Yield Bonds

Follow the asset managers and topics that are trending with manager selectors.
RFPnetworks High Yield Bonds Investment Research depicted by young family relaxing on bed looking upwards

Why Short Duration High Yield Bonds

Are Short Duration High Yield Bonds The Best Option Today? Investors see three reasons to lower duration in high yield bond allocations today.
Read post
RFPnetworks High Yield Bonds Investment Research depicted by young family relaxing on bed looking upwards
Aegon Asset Management

Why Short Duration High Yield Bonds

Are Short Duration High Yield Bonds The Best Option Today? Investors see three reasons to lower duration in high yield bond allocations today.
Read paper
Aegon Short Duration High Yield Bonds research on RFPnetworks depicted by markets.

High yield opportunities amid rising rates

Amid aggressive monetary tightening, the short duration profile of high yield bonds can help defend against rising rates.Short-dated high yield bonds...
Read post
Aegon Short Duration High Yield Bonds research on RFPnetworks depicted by markets.
Aegon Asset Management

High yield opportunities amid rising rates

Amid aggressive monetary tightening, the short duration profile of high yield bonds can help defend against rising rates.Short-dated high yield bonds...
Read paper
High Yield Bonds Outlook 2023 on RFPnetworks depicted by steel buckets containing groups of similar stationary

High Yield Bonds Rating Outlook

Where in the rating tables - from CCC to BB - should high yield bond investors be focused in 2023? Here's are global investment managers outlooks for 2023.
Read post
High Yield Bonds Outlook 2023 on RFPnetworks depicted by steel buckets containing groups of similar stationary
Aegon Asset Management

High Yield Bonds Rating Outlook

Where in the rating tables - from CCC to BB - should high yield bond investors be focused in 2023? Here's are global investment managers outlooks for 2023.
Read paper
Aegon High Yield Bond Outlook 2023 on RFPnetworks depicted by time series illustration

High Yield 2023 Outlook: Opportunities Amid Uncertainty

Caution is warranted entering 2023, however volatility could present intriguing buying opportunities. Although headwinds persist, the...
Read post
Aegon High Yield Bond Outlook 2023 on RFPnetworks depicted by time series illustration
Aegon Asset Management

High Yield 2023 Outlook: Opportunities Amid Uncertainty

Caution is warranted entering 2023, however volatility could present intriguing buying opportunities. Although headwinds persist, the...
Read paper
RFPnetworks High Yield Bonds and loans comparison depicted by old skool vinyl records

High Yield Bonds Outperform Loans

High yield bonds or private credit? Investors are comparing the benefits and disadvantages of each for the current changing market environment.
Read post
RFPnetworks High Yield Bonds and loans comparison depicted by old skool vinyl records

High Yield Bonds Outperform Loans

High yield bonds or private credit? Investors are comparing the benefits and disadvantages of each for the current changing market environment.
Read paper
High Yield research on RFPnetworks depicted by large arrow painted on road pointing down

High Yield Performance

High Yield performance in 2022 is one of those years that investors will remember. It is the year that active investment managers were put to the test.
Read post
High Yield research on RFPnetworks depicted by large arrow painted on road pointing down

High Yield Performance

High Yield performance in 2022 is one of those years that investors will remember. It is the year that active investment managers were put to the test.
Read paper
High Yield Bond Research on RFPnetworks depicted by 3 men thinking with hands on their chin and eyes wide open.

High Yield Bond Alpha

High Yield Bonds are being impacted by inflation, interest rates and on the corporate level by geo-political risks. But alpha can be found in the niches.
Read post
High Yield Bond Research on RFPnetworks depicted by 3 men thinking with hands on their chin and eyes wide open.

High Yield Bond Alpha

High Yield Bonds are being impacted by inflation, interest rates and on the corporate level by geo-political risks. But alpha can be found in the niches.
Read paper
Fixed Income research on RFPnetworks depicted by DJ holding arms above head

Credit Cycles and High Yield Bonds

The late stage of a credit cycle can be dangerous for U.S. High Yield Bond investors. Portfolio Mangers give their views on the risks of over-leverage.
Read post
Fixed Income research on RFPnetworks depicted by DJ holding arms above head

Credit Cycles and High Yield Bonds

The late stage of a credit cycle can be dangerous for U.S. High Yield Bond investors. Portfolio Mangers give their views on the risks of over-leverage.
Read paper

Are you an asset manager selector?

Access 35k+ professional investment research white papers