Improving fundamental conditions in the high-yield bond sector may make the ability to research sectors and individual issues more important in a risk-on/risk-off environment.
The high-yield sector may offer more attractive returns with potentially lower volatility than equities, based on a comparison of the historical profiles of the two asset classes and analysis...
Aaron M. Cooper D. William Kohli Norman P. Boucher, Portfolio Manager, and Paul D. Scanlon, CFA Daniel Farrell David L. Glancy Daniel J. Graña Darren A. Jaroch David Morgan Robert D. Ewing, D. William Kohli Putnam Fixed Income Team Ferat Ongoren Gerard P. Sullivan Jason R. Vaillancourt, CFA Jacquelyne J. Cavanaugh Joanne M. Driscoll Onsel Emre, Ph.D. Joseph P. Joseph Joseph P. Joseph and Randy J. Farina Joykrishna Mahato Jeffrey B. Sacknowitz Kelsey Chen Kevin F. Murphy Michael J. Atkin Thalia H. Meehan, CFA and Paul M. Drury, CFA Michael V. Salm, Co-Head of Fixed Income; and Brett S. Kozlowski, CFA and Kevin F. Murphy, Portfolio Managers Michael V. Salm Nathaniel N. Salter Nick C. Thakore Paul D. Scanlon Putnam Global Asset Allocation Team Putnam Investments Putnam Tax Exempt Fixed Income Team Putnam U.S. Equities Team Putnam Portfolio Managers Robert M. Brookby Robert D. Ewing Randy J. Farina Robert D. Ewing, CFA, Co-Head of U.S. Equities, and Shep Perkins, CFA, Co-Head of International Equities Robert L. Reynolds Robert L. Salvin Michael V. Salm, Co-Head of Fixed Income, and Brett S. Kozlowski, CFA Sarah A. Marshall Steven W. Curbow Simon Davis Shep Perkins Robert L. Davis, CFA, Analyst, and Simon Davis Thalia Meehan Vivek Gandhi Walter D. Scully
Fundamental changes in old industries, from gas to chemicals to telecommunications, are shaping the landscape of high-yield investment opportunities. As interest rates rise, bond prices fall. Lower-rated bonds may...