Counting On Fed Rate Cuts? Consider Adding Asia High Yield Instead [Forbes]
SUMITOMO MITSUI TR S/ADR (SUTNY)
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Source: Forbes
High yield outperformed investment grade globally in 2023 and we believe this trend could continue in 2024 due to continued volatility in inflation expectations and the potential for a soft landing in the United States. Asia's high yield bond market, represented by the KraneShares Asia Pacific High Income Bond ETF (Ticker: KHYB) currently offers an average yield-to-maturity of 10.99% compared to the 8.45% offered by the Bloomberg Global High Yield Index. We believe Asia's high yield bond market will continue to benefit from relatively low interest rate risk, improving credit quality, decreasing exposure to China's real estate industry, and economic growth in Asia for the remainder of 2024. Introduction With interest rates above 5% for the first time in almost two decades, the 60/40 portfolio is making a comeback, and investors are searching for intelligent, timely fixed income investments. In 2023, as fixed-income markets rebounded, many investors piled into investment-grade
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