High Yield: The Comeback Kid [Chart]

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High Yield: The Comeback Kid [Chart]

High Yield: The Comeback Kid – Chart by Gershon Distenfeld, Alliance Bernstein

How swift will this recovery be? The US high-yield market has suffered nine peak-to-trough losses greater than 5% in the last 17 years. On average, investors recovered their losses in only four months—and sometimes as few as two. Following the longest and largest drawdown, which lasted 19 months and reached –35%, investors who stayed in the high-yield market earned back 55% in just eight months.

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Third Point's Dan Loeb discusses their new positions in a letter to investor reviewed by ValueWalk. Stay tuned for more coverage. Loeb notes some new purchases as follows: Third Point’s investment in Grab is an excellent example of our ability to “lifecycle invest” by being a thought and financial partner from growth capital stages to Read More


Largest High Yield Drawwdowns and Recoveries

 

The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams.

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