NEW YORK ( TheStreet) -- After suffering crushing losses in 2008, high-yield mutual funds have rebounded sharply.Last year, the funds returned 47%, and this year they have tacked on another 5.5%, according to Morningstar. After the record rally, are high-yield bonds still appealing? Yes, says Joe Balestrino, manager of Federated Strategic Income (STIAX). "The fundamentals for the high-yield market are sound, and the valuations are still fairly cheap," he says.
High-Yield Bonds, After Rally, Keep Appeal
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