Fangs for the opportunity: Are high yield and total return bonds worth sinking your teeth into?

The words of the world's most famous bond investor Bill Gross were a very apt way to describe the attitude of bond investors to the bloodbath that was the market sell-off in 2020. In a time of great uncertainty, support from governments loans, central banks and the fact that companies are contractually obliged to pay an income through their bonds resulted in the asset class becoming attractive for the first time in more than a decade. However, fixed income is now expensive again, having gone back to pre-pandemic levels - with yields at historic lows. The sun is shining too much for th...