IA Sterling High Yield
ONE MAN ’ S JUNK
With high yield bonds offering yields close to double digits , Adam Lewis asks if they are a better bet than equities for riskon investors this year
Last year saw risk turn on its head . Not only did global equities and bonds both fall in the same calendar year for only the fourth time in the past century , but in the UK , government bonds – supposedly the safest asset class – fell by 23.8 %, as measured by the FTSE Actuaries UK Conventional Gilts All Stocks index . And this is following a mini recovery – at its lowest point , in September , it was down by more than 30 %. It is only against such a topsy-turvy backdrop that the relatively muted
Issue 92 - February 2023 / 55 /