AllianceBernstein's Peebles Says Clip Coupons on High-Yield Debt
- Federal Reserve is not likely to hike rates before June
- Yield curve points to recession in next five years, he says
This article is for subscribers only.
In light of a more dovish Federal Reserve, it makes sense to hang onto junk bonds now and collect the relatively high yield they pay, said Doug Peebles, chief investment officer of fixed income at AllianceBernstein.
“I think we want to be a little more risky than we would otherwise be,” Peebles said in an interview Friday at Bloomberg headquarters.