Investment

While usually seen as the domain of equity investors, T. Rowe Price portfolio manager and vice president Mike Della Vedova says high-yield bonds are emerging as a unique exposure to megatrends like artificial intelligence and GLP-1 drugs. Large-cap stocks like Nvidia may provide the “picks and shovels” to the AI gold rush, but smaller companies with sub-investment grade credit profiles are providing the handles and heads, he says.