In the risk-on environment that has characterized much of 2025, high yield typically surges, but blue-chip corporates have outperformed. The group has been buoyed by robust earnings and strong demand for quality bonds with yields above historical averages. For some, the best-rated company debt is even more attractive than Treasuries. Mike Contopoulos, deputy CIO of Richard Bernstein Advisors, speaks with Matt Miller on "Bloomberg Real Yield".