Kames' Ennett: Where are the opportunities in a mature credit market?

High yield manager

2018 is shaping up to be a key year for the high yield bond market, writes David Ennett, head of high yield and co-manager of the Kames High Yield Global Bond fund.

In 2017, the market effortlessly shifted from 'recovery mode', following the 2015-16 'shale energy' crisis, to rallying in conjunction with the global expansion we see around us.  As a result, investors will enter 2018 contending with the offsetting influences of tight valuations against improving macroeconomic - and therefore corporate - fundamentals. Kames unveils short-dated high yield fund for Ennett and Baines How do we see these competing factors playing out in 2018? We think the big beta-driven moves of 2016 and early 2017 are behind us.  We expect to see a modest amount ...