HSBC: Short-term high-yield credit bonds in the United States are attractive.

HSBC's Song Jin Lee stated in a report that the short end of the bond yield curve in the United States high-yield credit bonds is attractive due to its lower volatility. Lee said that long-term credit bonds face higher volatility, which is caused by concerns about fiscal risks and the volatility of long-term U.S. government bonds. "High-yield bonds at the front end can provide shelter to avoid the volatility caused by fiscal concerns."