Foto: Claudia Beyli via Pixabay
The US high yield bond market returned 7.4 percent for 2025 through October (per Morningstar’s US High Yield Bond Total Return USD Index), outpacing the leveraged loans market’s 4.9 percent return (Morningstar LSTA US Leverages Loans Total returns USD Index). This year’s underperformance stands out, due to several high-profile blowups such as Tricolor and First Brands.
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