Volpert said credit is becoming more available, which will create an easier environment for markets to grow.
“Even though the Treasury rates are up about 2 percent, corporate yields are down about 2 percent—high-yield bonds have declined 8 percent in yield. So credit is much more available,” he said.
"It’s been an unprecedented rally in corporates that really is now making it much more feasible for the market to grow going forward, and it will feed on itself as it grows so it’s very encouraging.”
"We continue to like investment grade credit," said Volpert. He believes that the spreads have further room to run.
“With money market funds at 0 percent, that’s a lot of money moving out of money market funds out into credit and I think that’s a good trade,” he said.
No immediate information was available for Gross or Volpert.
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