Outlook for High-Yield and Leveraged Finance
Tuesday, May 3, 2016 / 3:45 pm - 4:45 pm
Tom Braithwaite, Lex Writer, Financial Times
Christopher Boyle, Managing Director and Portfolio Manager, Guggenheim Partners
Peter Budko, Partner, AR Global
Henry Chyung, Chief Investment Officer, Post Advisory Group
Robert Kricheff, Global Strategist and High-Yield Portfolio Manager, Shenkman Capital
Andrew Whittaker, Vice Chairman, Jefferies; Vice Chairman, Leucadia National Corp.
The high-yield bond market has rallied again in recent months after a selloff that drove yields to their highest levels since 2011. The market was hit hard in 2015 and early 2016 by worries about slowing global growth and the collapse of energy priceswhich slammed the bonds of many oil and gas companies. Lately, growth fears have eased and oil prices have recouped some of their losses. But many investors remain concerned about other potential threats to high-yield, including credit tightening by the Federal Reserve, prolonged weakness in emerging-market economies and the rising tide of corporate debt maturing between 2018 and 2022. Are central bank policies, including negative interest rates in Europe, supportive or hazardous for high-yield? Which industries offer the best value prospects for investors now? On this panel, leaders in high-yield and leveraged finance will share their outlooks and strategies.