Vimal Gore is BT Investment Management’s Head of Income and Fixed Interest. In his latest monthly newsletter he spent a good part of it discussing the high yield market. The high yield market comprises debt securities which are sub-investment grade. That is, they have credit ratings below BBB- (S&P) or below Baa2 (Moody’s). Naturally they have a higher yield than investment-grade securities and this is why some investors are attracted...