What's more, European banks have bought U.S. companies that have the skills to manage high-yield debt issues.
There are several low-cost high-yield corporate bond funds available; however, a broadly diversified and low-cost actively managed high-yield fund may be a better choice.
"It was interesting to see how vineyards are managed when high yields and low costs are a priority, as opposed to the lower yields and high quality fruit production stressed in wine grape production," said Abbott.
How are you managing higher deductibles?
He began as a bond salesman in Atlanta, before climbing to managing director for high yield and derivatives.
"Like some of its counterparts, Winstar was just too ambitious and aggressive for its own good," said Jerry Paul, who manages the high-yield bond portfolio for Invesco Funds in Denver.
Matthew Freund, who manages the high-yield fund and other fixed-income investments, says he's still buying newly issued bonds, even though he argues the market can't climb much higher.
Kevin R. Lorenz, who manages the TIAA-CREF High Yield fund, described his approach.
Page B1 ITALY BONDS AT HIGH YIELD Italy managed to sell five-year bonds in an auction, but yields were at their highest level in three years, a sign that some investors remained nervous about the risk of the sovereign debt crisis spreading from Europe's vulnerable periphery to its core economies.
U.S. high yield has managed to quietly miss much of the pain that has hit Emerging Market Bonds, as well as higher quality U.S. corporate bonds and U.S. treasuries.
Chief operating officer of bank's U.S. credit treading group, managing some 100 bankers trading investment grade, high yield and distressed debt.
