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high-yield bonds

also referred to as: high yield bonds

2 statements across 1 episodes · 2 bullish · 0 bearish · 1 people on the record · first statement May 4, 2026 by Howard Marks · across every show →

Everything said about high-yield bonds, oldest first

May 4, 2026 bullish
Assertion Supported
Marks: Oaktree's 40-Year Default Rate Is Roughly One-Third Market Average
“Over the last 40 years, on average, something like 3.6 or 3.7% of all high yield bonds have gone into default every year. And our default rate has been Roughly a third.”
Howard Marks May 4, 2026 ▶ 1:01:33 Howard Marks: AI, Debt vs Equity & The Next 40 Years Of Investing | Nikhil Kamath | People by WTF · Nikhil Kamath
May 4, 2026 positive
Assertion Not checkable as stated
Marks: 99% of Oaktree's high-yield bonds paid full principal and interest
“I've been in high yield bonds for 48 years. And in our experience, 99% of the bonds have paid interest in principle as promised.”
Howard Marks May 4, 2026 ▶ 53:49 Howard Marks: AI, Debt vs Equity & The Next 40 Years Of Investing | Nikhil Kamath | People by WTF · Nikhil Kamath
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