UBS is bullish on investment-grade corporate bonds. Here’s why

Yields may be down from last year’s highs, but there is still plenty for income investors to like about investment-grade corporate bonds, according to UBS.

The total return on investment-grade (IG) bonds has faced headwinds from the interest rate component as Treasury yields moved higher since the beginning of the year. However, IG’s excess return has been a different story, says Barry McAlinden, a fixed income strategist in UBS’s chief investment office.

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