PGIM High Yield Fund Q2 2024 Commentary [Seeking Alpha]
PGIM High Yield Bond Fund, Inc. (ISD)
US:NYSE Investor Relations:
news.prudential.com/prudential/news/corporate-financial-results
Company Research
Source: Seeking Alpha
PHYL PFRL PAAA PJFG PTRB PSH PTWAX PAB PJIO PTWCX PMIO PSDM PDDDX PBL PTWZX PDIDX PDGCX PDCEX PPRSX PGIM Investments Follower s Follow Summary In terms of positioning, we remain somewhat cautiously positioned but are looking to opportunistically add risk during market pullbacks. The Fund Class Z underperformed its benchmark, the Bloomberg U.S. High Yield 1% Issuer Capped Index, gross of fees. With spreads hovering near post-GFC tights, we believe they are close to fair value and we expect excess returns to come mostly from carry in Q3 2024. Tippapatt Market Review U.S. high yield bonds posted positive returns in Q2 (with spreads rising modestly from their early May post-GFC tights) amid supportive fundamentals, light net new supply, increased evidence of an economic soft landing, and growing expectations that there will be a pivot to rate cuts by the Fed sometime in the second half of 2024. Retail demand remained positive in Q2, with flows into high yield bond m
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Sec Filings
- 10/15/24 - Form N-CEN
- 10/11/24 - Form SC
- 10/3/24 - Form N-CSR
- ISD's page on the SEC website