: Junk bonds aren’t as junky as investors think – which makes them a good contrarian buy


High-yield debt of riskier companies is not as junky as investors believe. So these bonds have sold off too much. Consider finding a place for them in your investment portfolio: Junk bonds are now a source of decent dividend yield and potential capital appreciation – and a compelling contrarian play.

“I’ve been doing this a long time, and I think now is a very attractive time to enter the asset class,” T. Rowe Price US High Yield fund TUHYX manager Kevin Loome told me in a recent interview. Because of widespread fears of recession…

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