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UBS is overweight on US high-yield versus high-grade bonds

UBS is overweight on US high-yield versus high-grade bonds

The U.S. high yield market is undervalued because it is pricing in a 7% to 9% default rate and the U.S. economy is not at that kind of levels, says Kelvin Tay of UBS Global Wealth Management. He adds the coronavirus outbreak is not a "high-impact, long-term" problem.

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