Invesco High Yield Fund Q3 2025 Commentary

Invesco US 3.3K Follower s Follow 5 Share Save Play ( 7min ) Comments Summary Risk assets rose in the third quarter in anticipation of the US Federal Reserve cutting interest rates. Technicals in the high-yield market (supply/demand balance) were strong as inflows totaled approximately $5.0 billion for the third quarter. $12 billion of high-yield bonds or loans were affected by payment defaults or distressed transactions, the second lowest quarter since the start of 2023. Corporate balance sheets remained healthy and defaults stayed below their past average, suggesting to us a benign default outlook. Zolak/iStock via Getty Images Manager perspective and outlook In the third quarter, multiple developed economies experienced a mix of headwinds and tailwinds. The US economy saw mega-cap firms pouring capital into artificial intelligence (AI), driving equity markets higher. Meanwhile, small-business capital expenditures and hiring plans This article was written by Invesco US 3.3K Follower s Follow Invesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life.Be the first to know! Sign up for Invesco US Blog and get expert investment views as they post.Disclosure for all Invesco US articles: Before investing, carefully read the prospectus and/or summary prospectus and carefully consider the investment objectives, risks, charges and expenses. The information provided is for educational purposes only and does not constitute a recommendation of the suitability of any investment strategy for a particular investor. Invesco does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. Federal and state tax laws are complex and constantly changing. Investors should always consult their own legal or tax professional for information concerning their individual situation. The opinions expressed are those of the authors, are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals. NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE All data provided by Invesco unless otherwise noted. Invesco Distributors, Inc. is the US distributor for Invesco Ltd.’s retail products and collective trust funds. Invesco Advisers, Inc. and other affiliated investment advisers mentioned provide investment advisory services and do not sell securities. Invesco Unit Investment Trusts are distributed by the sponsor, Invesco Capital Markets, Inc., and broker-dealers including Invesco Distributors, Inc. PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC (Invesco PowerShares). Each entity is an indirect, wholly owned subsidiary of Invesco Ltd. ©2015 Invesco Ltd. All rights reserved.

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