HYLD - High-Yield Bonds: A Long-Term Investor's Friend
The US high-yield bond market has an impressive record when it comes to recovering drawdowns quickly. But how much can an investor who stays put reasonably expect to earn? Today's yield should give them a pretty good idea.
History has shown that the yield you start with is a remarkably reliable indicator of what you can expect to earn over the next five years. This has held true even during the market's most stressful and volatile periods. An investor who bought on the eve of the global financial crisis - as it turned out,