Topic

High Yield Bond Research

Finvaulta tracks 99 research reports on High Yield Bonds, updated through September 3, 2026. Latest: “An Elusive Summer Slowdown”.

High yield bond investors are navigating a complex macro environment dominated by geopolitical tensions in the Middle East and a hawkish shift in Federal Reserve expectations. The ongoing US-Iran conflict maintains high volatility in energy markets, with Brent crude prices hovering near $92/bbl, directly impacting the credit profiles of energy-sector issuers. With the Fed expected to delay rate cuts until December 2026 due to persistent inflation, research suggests rebalancing toward quality short- to medium-duration bonds and emerging market debt to capture enhanced yields. Despite regional blockades in the Strait of Hormuz, narrowing GCC CDS spreads and $160 million in capital inflows to Saudi Arabia indicate selective resilience in international credit markets. Corporate activity remains robust, evidenced by Devon Energy's $8 billion asset offer and earnings upgrades in Technology and Energy, though analysts remain wary of consumer-facing sectors. Investors are advised to manage credit risk through diversification and a focus on sector-specific fundamentals, such as AI-driven growth and energy supply bottlenecks.

Featured reports

An Elusive Summer Slowdown

Goldman Sachs·Sep 3, 2026

Goldman Sachs raised its full-year 2026 USD IG gross issuance forecast to $2.3 trillion after AI-driven corporate debt supply eliminated the usual summer slowdown. Total returns remain heavily constrained by benchmark yields, while EUR credit's technical outperformance against USD is expected to fade.

Global Credit Trader: A Real Focus Back on Rates

Goldman Sachs·Aug 27, 2026

Goldman Sachs credit strategists examine the impact of rising 10-year yields (+35-45bp YTD) on credit markets, noting that US real yield increases have flipped rate-spread correlations positive while European moves reflect sticky energy prices. They recommend expressing credit views via cash yield for carry and income rather than relying on spread tightening, while modestly favoring HY bonds over leveraged loans.

Global Credit Trader: Redefining Quality in Credit

Goldman Sachs·Aug 13, 2026

Goldman Sachs reassesses quality positioning across global credit markets as AI-related debt issuance creates supply headwinds in high-quality cohorts. The firm recommends moving down-in-quality to BBBs in EUR IG, shifting USD HY to overweight Bs vs neutral BBs, and moving to a neutral allocation between IG and HY in both USD and EUR.

LevFin Liquidity Stress Tests Navigating An Uncertain Rates Backdrop

Bank of America·Aug 6, 2026

This report examines the liquidity resilience of LevFin issuers through cash runway and coverage stress tests amidst uncertain interest rate trends. It highlights increased restructuring risks in the private Loan market, particularly for CCC-rated issuers, balanced against solid earnings growth.

Credit Strategy Weekly Update

J.P. Morgan·Jul 24, 2026

High-yield bond yields and spreads rose as macro uncertainty in the Middle East and AI-sector concerns weighed on investor sentiment. Leveraged loans outperformed broadly while institutional loan volume remained light.

Credit Market Update

UBS·Jul 14, 2026

The report provides a performance overview of US and European credit markets as of June 2026. It highlights modest returns in leveraged loans and high yield bonds amid a shift toward a hawkish Federal Reserve.

Bond Top List

UBS·Jul 14, 2026

This UBS Bond Top List provides curated investment recommendations for both hold-to-maturity and relative value strategies across various global bond markets. It includes coverage on non-financial corporates, financials, high yield, and sustainable bonds.

Fixed Income Weekly

Syz Private Banking·Jun 16, 2026

This report covers the impact of a looming US-Iran peace deal on global bond markets and reviews recent interest rate hikes by the ECB and BoJ. Despite cooling oil prices, US Treasury yields remain stable, reflecting robust US economic data.

Flows & Liquidity: Quantity-Based vs. Price-Based Financial Conditions Metrics

J.P. Morgan·Sep 2, 2026

Rotation Moderation — Remain OW Equities for 12M but Tactically More Defensive

Goldman Sachs·Sep 2, 2026

Weekly Market Update

DoubleLine·Aug 28, 2026

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