High yield bonds have made a massive comeback in the past month, especially considering the pressure that still remains on the energy issuers. Cam Albright, head of investment strategy at Wilmington Trust, said there are more gains ahead, but investors better not jump in without guidance. ‘You are probably in a position where prices have come back about half way at this point in time, so I think there are still some good values out there to be able to take advantage of,’ said Albright. The SPDR Barclays High Yield Bond ETF (JNK) is up over 8% since the equity market hit a 52-week low on February 11th. Albright added there are still some parts of the high yield market that remain under stress, most notably out the energy sector where he expects an increasing number of defaults in coming months.
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