High Yield

July 30, 2026

US high yield experienced a positive Q2 2026 amid an eye-popping recovery in equities and a US Treasury sell-off. The PPM Leveraged Credit team took the opportunity to adjust positioning in the strategy by adding credits in the 100-300 bps spread bucket and reducing distressed credits. We were also active in various sectors, adding to Technology & Electronics, Basic Industry and Energy while reducing Insurance and Foreign Sovereign. 

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