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The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.
Historical analysis does not guarantee future results.
Global high yield is represented by the Bloomberg Global High Yield Index USD Hedged; US high yield is represented by the Bloomberg US Corporate High Yield Index.
Through December 31, 2024
Source: Bloomberg and AllianceBernstein (AB)
Historical analysis does not guarantee future results.
Highlighted periods are defined as periods in which spreads crossed below 400 basis points before crossing long-term average spread level of 517 basis points.
Through December 31, 2024
Source: Bloomberg and AB
Historical and current analyses do not guarantee future results.
US high yield is represented by the Bloomberg US Corporate High Yield Index; inception date: July 1, 1983. S&P 500 data since March 31, 1936.
Annualized return and volatility are calculated based on data since inception. S&P 500 current yield is calculated as estimated forward dividend yield. US high-yield current yield is calculated at current yield to worst.
Through December 31, 2024
Source: Bloomberg, S&P and AB
The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.
Investment involves risk. The information contained here reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this publication. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this publication. This article is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer of solicitation for the purchase or sale of, any financial instrument, product or service sponsored by AllianceBernstein or its affiliates. This presentation is issued by AllianceBernstein Hong Kong Limited (聯博香港有限公司) and has not been reviewed by the Securities and Futures Commission.