PHYL News and Press, PGIM Active High Yield Bond From 01/09/24

2024-01-09 13:25:00 ET Summary Amid slower economic growth and more benign monetary policy, we believe that this year bond prices will be driven less by inflation and central bank policy and more by economic growth dynamics. Rather than seek to play the timing of interest rate red...

2024-01-03 10:08:00 ET Summary The calendar year 2023 proved to be an incredible roller-coaster for U.S. fixed income. Sentiment in the money and bond markets shifted dramatically and yield levels plummeted across the board, while MBS and corporate bond spreads narrowed considerab...

2024-01-02 00:30:00 ET Summary The tide has turned for bonds. Here’s what we think is in store for 2024. Key central bank rates and bond yields remain high globally and are likely to remain elevated well into 2024 before retreating. Despite Treasuries’ recent ral...

2023-12-27 06:30:00 ET Summary The basic goals of any active investor are to achieve higher returns and/or lower risk than a passive portfolio. Given this, the immediate question is why anyone would not bias their equity and high yield debt portfolios toward high quality? It&#...

2023-12-27 03:59:00 ET Summary The S&P 500 has made a new all-time-high on a total return basis, but it needs to break out decisively. Corporate defaults seem very well-contained, but corporate credit spreads are your “early warning” indicator for a deeper recess...

2023-12-19 00:33:00 ET Summary The biggest companies in a passive bond portfolio are those that have issued the most debt. Companies in difficulty often have a bigger impact in a bond portfolio than in an equity portfolio. In high yield, the net-of-fees total return of even th...

2023-12-15 05:30:00 ET Summary Multi-asset income investors should adapt portfolios for equity defense, credit potential, and duration exposure in 2024. Investors should view equity allocations as the core driver of growth and upside potential within a multi-asset strategy. De...

2023-12-06 12:15:00 ET Summary We are likely at the end of the Fed’s hiking cycle, but don’t anticipate rate cuts until the second half of 2024. The shape of the yield curve and the trajectory of growth will be key drivers of returns. Investors piled into cash in 202...

2023-12-06 10:07:00 ET Summary Is now the time to invest in fixed income? That’s one of the biggest questions we get from clients today. The Federal Reserve’s prior rate hikes are working through the economy, as there are signs of softening in recent inflation, econo...

2023-12-04 23:50:00 ET Summary In addition to nearing its prior highs, the pattern of the S&P 500 looks a lot like a cup and handle which technicians consider to be a bullish formation. For all the weakness that we've seen in the US Treasury market over the last couple of year...