0931 GMT - High-yield corporate bonds offer attractive yields and their underlying quality is good, UBP's Filipe Alves da Silva says in a note. "The underlying quality of high yield has improved in recent decades, with BBs (56% of the index) gaining share at the expense of CCCs (11%)." The all-in yield on high-yield assets has greater capacity to absorb shocks, he says. "Nevertheless, any sign that higher energy prices and higher rates are starting to weigh on growth would hit the asset class."
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