Analysis: Investors' appetite for high-yield credit bonds remains strong.

Jordan Lopez of Payden & Rygel stated in a webinar that even during a period of rising interest rates, investors' enthusiasm for high-yield credit bonds remains strong. "I don't think the higher rates on high-yield corporate bonds necessarily have to be negative," the head of the high-yield strategy group said. "Obviously, it's painful during the rising process, but most high-yield buyers are actually yield buyers, not necessarily spread buyers." He said that investors focus on the total yield, which is currently over 7% for US high-yield bonds, and not just on the credit spread. He said that most high-yield buyers consider the total yield when deciding on investments.