TDAM manager turns cautious on high-yield bonds

Amid narrowing spreads, non-investment-grade credits are expensive, cautions Greg Kocik of TD Asset Management. Source: Morningstar With high-yield-bond spreads over U.S. Treasuries approaching relatively low levels, and uncertainty about the Federal Reserve’s plans to start the process of unloading trillions of dollars of bonds from its balance sheet this fall, Greg Kocik argues that it…

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