Link to Papers

This subsection presents two papers that delve into the dynamics of high-yield lending:

1. “High-Yield Debt: It’s Good Until It’s Not”
   This paper examines the evolution of high-yield lending strategies, highlighting the balance between risk and return over time.

2. “High-Yield Lending’s Characteristics as a Function of Asset-Level Volatility”
   This study investigates how the volatility of underlying assets influences the characteristics and performance of high-yield loans, providing a nuanced understanding of risk factors in lending.