Western AM CIO: still holding junk bonds

Despite the recent sell-off of US high yield bonds, Kenneth Leech, CIO at Western Asset Management, says he remains overweight the sector; plus why he is short the yen.
Ken Leech, Western Asset Management
Ken Leech, Western Asset Management

Kenneth Leech, chief investment officer at the $465 billion Western Asset Management in Pasadena, California, explains why high yield bonds remain attractive, as well as the firm's strategiest toward China and Japan.

Market makers are no longer putting much of a balance sheet behind bond trading. Where do you feel that the most
Ken Leech It affects high yield the most. High yield is always a volatile sector because you’re dealing with companies that aren’t the most pristine credits. In the US there are so many high-yield retail mutual funds because we’ve had zero interest rates for six years and investors are frustrated and looking for returns. But...

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