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High Yield Bond Valuations Remain Attractive, Says Portfolio Manager

High yield bonds bounced back in the first half of 2016 after the drop in oil prices sank the sector last year.

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Andrew Toburen, portfolio manager for the Chartwell Short Duration High Yield Fund (CWFIX), said junk bonds should continue to fare well in the second half of the year as interest rates remain low and the economy grows slowly.

"Energy defaults will remain elevated, but it's already priced into the market," said Toburen, adding that high yield bond valuations are still attractive even after the recent run-up.

The Chartwell Short Duration High...