Allspring's Schueller says this 'muddle-through economy' is good for junk bonds

Mike Schueller, Co-Manager of the Allspring Income Opportunities fund, says that high-yield bonds are poised to be steady performers through the current wave of headline risks and market uncertainty because the economy is solid enough that there's no reason to expect a spike in defaults. With the potential for recession "having receded into the background," he's expecting a "muddle-through economy," with defaults remaining at current low levels, allowing high-yield to keep delivering "high, consistent income" and total returns at or above historic norms for the high-yield asset class.