Leveraged Loans vs. High-yield Bonds?
Is there any career implications for covering Leveraged Loans or High-yield Bonds, in terms of early career learning and the work experience later in your career? Given the majority of loans are managed at smaller CLO shops vs. bonds more traditional LO, is there any implications there? If you had to pick one to cover, what would it be? Do most shops have analysts only focus on one or do they cover both? Is it possible to move between the two throughout your career or is it easy to switch between the two.