Expert insight

Consumer trends and high-yield credit

October 25, 2022

generic author V graphic

Vanguard Senior High-Yield Credit Analyst

The constructive, the cautious, and the negative
The constructive: Away from home and grocers
The cautious: Department stores
The negative: Homebuilders
A summary of our outlook by consumer industries in high-yield credit
In the non-discretionary sector, the outlook is constructive for grocers. In the consumer discretionary sector, the outlook is constructive for away from home segments including casinos, hotels, cruises, and concerts; it is cautious for the retail / goods segment including department stores; and it is negative for the housing-related segment including homebuilders.
Investing in this segment of high yield
Active Fixed Income at Vanguard
The graphic shows that Vanguard’s active Fixed Income Group managed $227 billion in taxable bonds and $199 billion in municipal bonds as of September 30, 2022. The active management team includes more than 25 portfolio managers, more than 35 traders, more than 60 research analysts, and more than 130 dedicated team members.
Vanguard Information and Insights

Get Vanguard news, insights, and timely analysis on the market, delivered straight to your inbox.

Read our privacy policy to learn about how we keep personal information private.

* Indicates a required field

Vanguard Information and Insights

Thank you for subscribing to Asset classes.

You'll be notified when new content is published, but will only ever receive one email a day from Vanguard Insights.

Vanguard logo

Vanguard is the trusted name in investing. Since our founding in 1975, we've put investors first.