John Sullivan is credit fund manager for City Financial Investment Company
Key points
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Sub-investment grade credit is traditionally known as junk to its detractors and as high yield to its buyers.
The returns on high-yield corporate bonds, such as equities, are strongly linked to the business results and fundamentals of the underlying companies.
We are now witnessing the early signs of recovery in Europe which provides a very supportive backdrop for high-yield credit investors.
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