JPMorgan Favors Loans in First Growth Since ’08

JPMorgan Favors Loans in First Growth Since ’08

Scott Eells/Bloomberg

U.S. high-yield, high-risk bonds have returned 113 percent since the end of 2008, pushing yields to as much as 13 basis points below interest rates on loans as of Sept. 14 even though they offer less security in a bankruptcy, JPMorgan analysts led by Peter Acciavatti wrote in an Oct. 4 report.